Sterling European started as Sterling Airways, formed by the founder of Danish travel agency Tjaereborg in the 50s. Sterling operated one of the worlds biggest fleets of Sud-Caravelles. The airline was actually in the 70s the biggests charter company in Europe. The Caravelles were later switched to 727s.
Following the decline of non-scheduled travelling Sterling was transformed into a low cost scheduled carrier a couple of years ago. It operates a fleet of 8? 737-800s from ARN
and other Scandinavian airports to destinations in southern Europe (mostly Spain). Sterling also competes with SAS on their home turf serving CPH
from both OSL
Sterling seems to be a well managed airline and has shown profits the last couple of years.