Island Pacific Group, Oasis VA Might Merge

Island Pacific Group Virtual and Oasis Virtual Airlines Corporation today announced that the two carriers are in negotiation for a possible merger. Rumor has it that the two companies are negotiating an agreement in which the two carriers will combine in an all-stock transaction with a combined enterprise value of $1.7 billion, creating the flightsim communities premier global airline.

The proposed new airline, which will be called IPG Virtual, will be lead by IPG President Bill Monroe and Oasis Virtual President/CEO Bill Pope, the company’s press agent said today.

Equity stake
Mr. Pope commented “We will provide pilots with greater job security, an equity stake in the combined airline, and a more stable platform for future growth in the face of significant economic pressures from rising VFAS fuel costs and competition” Mr. Monroe went on to add, “Pilots throughout the VA will enjoy enhanced access to more destinations worldwide and will benefit from the combined carriers’ complementary route networks, which together will offer pilots a greater choice, and a superior Virtual Airlines experience to more cities than any other VA.”

Global US Flag carrier VA
The two added, “Combining IPG and Oasis will create a global U.S. flag carrier VA strongly positioned to compete with foreign VA’s that are continuing to increase service to the United States.”

Mr. Monroe stated at a press conference held earlier today, “By combining IPG and Oasis, we are building a stronger, more resilient airline that will be a leader in providing customer service and value for our pilots. The combined airline will offer unprecedented access to the world, enabling its pilots to fly to more destinations and have more flight choices on the VATSIM/IVAO/VFAS networks.”

The merger is set to take place and be into full implementation by the end of the summer 2009. The major changes that will be evident right away within the community will be the call sign change for all IPG flights which will switch to “Oasis”.

IPG and Oasis executives are expected to meet all month to discuss specific terms of the merger, hash out financial goals and assign possible transition executive staff responsibilities.

IPG executives stated this evening that should this deal go through both companies will retain individual websites in the interim until a joint site can be brought online.

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