In an email to ch-aviation, euroAtlantic Airways (YU, Lisbon) has denied media reports that it had been acquired by Luxembourg-based holding company I-Jet Aviation.

"euroAtlantic Airways categorically denies having been acquired by ImperialJet or by any other party," said Caetano Pestana, euroAtlantic's communications director. "We take this opportunity to reinforce that euroAtlantic is 100% owned by Mr. Tomaz Metello, Founder and Chairman of the company."

EuroAtlantic communicated the same message in a statement on July 25, denying that it had been sold but admitting that both parties were “in the process of negotiating with a view to a possible sale, but it has not been achieved so far”.

It explained that a notice issued by Portuguese Competition Authority (Autoridade da Concorrência, ADC) on July 24 was "just one of many necessary steps in such a transaction process”.

The ADC had said in the notice that it was analysing a “merger” that consisted of the “acquisition of sole control” of the Portuguese carrier by I-Jet Aviation, which it described as a “company dedicated to the management of shareholdings of other companies as an indirect form of carrying on economic activities”. The proposed purchase is for 95% of euroAtlantic's share capital, the notice said.

It added that “I-Jet Aviation does not carry out any activities in Portugal” and invited interested parties to submit comments.