Vueling Eyes EUR65 Mln Synergies With Clickair

Spanish airline Vueling said on Tuesday that it is targeting EUR65 million euros (USD$86.05 million) per year in synergies thanks to its merger with rival low cost airline Clickair.

The new company could see synergies on the revenue side of between EUR40 million and EUR45 million per year "in a normal year", Vueling said in a statement ahead of its shareholders meeting.

Cost synergies are seen at EUR75 million in three years, the company said.

Vueling reiterated that it is targeting over EUR800 million in sales for the new company in a normal year.

Today's AGM is to approve the share exchange for the merger, in which Spanish flagship carrier Iberia will be the main shareholder with about 40 percent.

Iberia currently has 80 percent of Clickair.