Vueling eyes 65 mln eur/yr synergies with Clickair

MADRID, May 5 (Reuters) - Spanish airline Vueling (VULG.MC) said on Tuesday that it is targeting 65 million euros ($86.05 million) per year in synergies thanks to its merger with rival low cost airline Clickair.

The new company could see synergies on the revenue side of between 40 million and 45 million euros per year "in a normal year", Vueling said in a statement ahead of its shareholders meeting.

Cost synergies are seen at 75 million euros in three years, the company said.

Vueling reiterated that it is targeting over 800 million euros in sales for the new company in a normal year.

Today's AGM is to approve the share exchange for the merger, in which Spanish flagship Iberia (IBLA.MC) will be the main shareholder with about 40 percent.

Iberia currently has 80 percent of Clickair.

At 0954 GMT, Vueling shares were up 11.16 percent to 5.58 euros. ($1=.7554 Euro) (Reporting by Robert Hetz; writing by Judy MacInnes; editing by Simon Jessop)