XL Airways France completes sale to X-Air Aviation
Clients XL Airways France
Jones Day represented XL Airways France in its sale to X-Air Aviation Holding, an entity backed by the Swiss-American investment fund Beachside Capital. XL Airways France, an airline company that has been held by the icelandic asset-management company ALMC (previously known as the Straumur-Burdaras Investment Bank) since 2008, runs six airliners from the Paris airport Charles-de-Gaulle. Based on a low-cost model, it is one of the few profitable airline companies in France. In 2011, XL Airways France generated a net income of EUR 1.1M, with a revenue of EUR 304M for the same year.