Tempus Global established strategic cooperation with Russian I-FLY Airlines-北京观韬律师事务所

Tempus Global established strategic cooperation with Russian I-FLY Airlines

2018-05-15

HOME > GUANTAO NEWS > Deals > Tempus Global established strategic cooperation with Russian I-FLY Airlines

On 19 March 2018, Tempus Global Business Service Group Holding Ltd.(“Tempus”), an affiliate of Tempus Group, signed Strategic Cooperation Agreement with a Russian airline LTD “I Fly” (“I-Fly”). To improve both parties’ economic and social benefits and achieve win-win results, the two parties will cooperate in full range, which concentrated on regular flight operations and tourism destination resources, to integrate and utilize respective advantageous resources, and to promote the upgrading of tourism products. Not only that, in this strategic cooperation, Tempus or its designated entity will subscribe for 10% of the new shares issued by I-Fly in the first round. On the condition that prerequisites were satisfied, Tempus will subscribe I-Fly’s new shares which will be issued in second and third rounds by December 31, 2020, no more than 10% per round. By then, Tempus will become I-Fly’s single largest shareholder.

Guantao Shenzhen office, led by Huang Yaping, acted as legal counsel of Tempus. Team members include Yin Ying, Luo Zengjin, Huang Kaibin, Wang Jing, Luo Mingyue.

In 2017, Tempus has cooperated with I Fly to operate 4 regular routes and achieved the successful operating results that the average passenger occupancy rate is about 95% so far. The subsequent regular routes operation in Chinese market will also be undertaken by Tempus Tourism. According to the announcement, I-Fly is a young Russian airline with good developing prospect. It has won the “Wings of Russia” national aviation award twice. I Fly has experienced and highly skilled aviation personnel, safe and high-performance aircraft, modern aviation technology, advanced management methods and excellent services. Tempus signed the Strategic Cooperation Agreement with I-Fly to carry out full range cooperation in projects, resources, capital, etc. It will make full use of all parties' advantageous resources and exert synergies effect to optimize the company's structure of “Tourism×Internet×Finance, Great Tourism Ecology Circle". It will help Tempus tap into the tourism resources further, such as the large-scale transportation to tourist destinations, thereby further enhance the company's core competitiveness and sustainable development capabilities.

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