A new European regional airline alliance has been founded.

Known as ‘SARA’  (Strategic Alliance of Regional Airlines) comprising executives from Air Nostrum and CityJet and several other companies.

Valencia-based Air Nostrum will hold 80% of shares in the venture, while Ireland’s CityJet will hold the remaining 20%. Other businesses confirmed as members include Hibernian Airlines, MRO operation ANEM and ANTO, a crew training centre, as well as Air Nostrum Global Services and several others.

Carlos Bartomeu, Air Nostrum president, will chair SARA, which will act as a holding company with its subsidiaries continuing to operate independently.

“Each of the companies linked to SARA will remain based in its own country and with its own employees, as in the past,” he stressed.