Consortium including Portuguese-Canadian investment fund Longstock Financial Investment Fund and Madrid-based Gadair European Airlines has offered €450 million ($693 million) for Spanair, Longstock President Vitor Pinto da Costa told Diario Economico. He said the offer is well above Iberia's bid of €300 million, yet he admitted it could fall though owing to an SAS condition that the consortium pay €100 million before the deal is completed, according to Reuters. He said the ...

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