OTHER NEWS - April 11, 1992
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Air France Rescues Sabena: Air France and Sabena SA signed a partnership deal under which the French flag carrier will acquire a 37.5% stake in the Belgian state-controlled airline. The pact caps yearlong talks and a lengthy search for a savior for Sabena. The deal, worth $122 million, is a crucial rescue package for Sabena, which reported a record $60-million operating profit last year after huge job cuts. Sabena lost $217 million in 1990. The deal will let the two carriers cooperate in the industrial and coommercial fields, maintenance, computer systems, catering and possibly fleet development.
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