BELGIUM, September 15, 2003 (PRIMEZONE) -- Reacting to an article published on Saturday 13th September 2003 in the Belgian financial daily 'De Financieel-Economische Tijd', the Virgin Express Board makes clear that the company has not approached SN Brussels Airlines or SN Airholding with a view to a second round of merger talks.
Since the merger talks failed in the spring of 2002, both sides have maintained friendly but competitive relations. During this period, a number of third parties have suggested renewed merger talks, as a way of resolving the problems faced by Belgian scheduled airlines operating from Brussels. These discussions have come to nothing.
Recently an investment bank, formerly an advisor to SN Brussels Airlines, has approached the Virgin Group (the majority shareholders of Virgin Express) and SN Airholding (the majority shareholder of SN Brussels Airlines) to propose a merger between the two airlines. Informal discussions are at a very early stage.
In the event of any substantive progress, an announcement would be made by the Virgin Express Board.