BARCLAYS Private Equity is planning to buy one of Airtours’ subsidiary operators if the group is forced to offload capacity as a condition of being allowed to proceed with its bid for First Choice.
The investment arm of Barclays Bank is desperate to return to the industry after a series of successful investments and will finance the purchase of another operator.
Airtours is believed to have had conversations with Barclays but is currently confident that the European Commission will waive through its plans to buy First Choice.
But Airtours may have to make concessions, for example selling off a First Choice subsidiary such as Unijet. Airtours would rather sell to Barclays than a rival.
Barclays would be keen to buy an operator like Unijet and enjoyed considerable success with its investments in Crystal, Eurocamp, Superbreak and Country Cottages, before its stake in those companies was bought out by new owners.
Barclays declined to comment.