BRUSSELS, Belgium, Jan. 30, 2002 (PRIMEZONE) -- Yesterday the management of Virgin Express (Euronext Brussels:VIRE) (Nasdaq:VIRGY) reviewed the reports drafted over recent weeks by joint Virgin Express/DAT working groups.
In total, five working groups analyzed commercial aspects, network planning, branding and marketing, operations, support services and financial modeling, and prepared a draft business plan for a merged entity of the two companies.
On the basis of the information gained from this study, the management of Virgin Express has recommended to its shareholders that the merger negotiation discussions should continue. If successful, these discussions might eventually lead to a merger of the two airlines.
It is expected that a final decision will be made by the end of February.