northernlights
Posts: 85
Joined: Thu May 20, 2004 8:13 pm

FL Group (Icelandair) Now Interested In Sterling

Wed Sep 14, 2005 6:46 pm

Now some very interesting news from the Far North...

Icelandair´s parent holding company FL group is now interested in purchasing Sterling Airways from Icelandic investment company Fons Ehf !!!  bigthumbsup 

Fons, which very recently purchased Danish airlines Sterling Airways and Maersk Air, is now in negotiations with the FL group regarding the takeover of Sterling by the FL group.

It is rumoured that Fons has plans into making out of Sterling a transatlantic low cost airline that would fly directly between Europe (CPH) and the USA. The FL group with Icelandair do not want another Nordic competitor on the lucrative translatlantic market, and thus they want to buy Sterling now from Fons. A scenario could be that the FL group will start with Sterling low cost flights from Europe to the USA in order to compete with SAS and to press them out of the market. It is said that SK of course would break all the ties with Icelandair as soon as the FL group has acquired Sterling Airways. A dream scenario for the FL group would then be to become the major player on the Scandinavian market...

Sterling Airways, along with Maersk Air, is now already giving fierce competition to SAS on the european markets.

The source of the above mentioned news is:
http://www.mbl.is/mm/vidskipti/frett.html?nid=1158276


Has anyone got more news about this?
 
747400F
Posts: 464
Joined: Thu Feb 26, 2004 3:36 am

RE: FL Group (Icelandair) Now Interested In Sterling

Wed Sep 14, 2005 7:14 pm

Interesting, especially seen in the light that FI allready owns about 13.1% of easyjet!
All humans have the right to marry the one they love
 
CV747
Posts: 166
Joined: Wed Jan 26, 2000 11:23 pm

RE: FL Group (Icelandair) Now Interested In Sterling

Thu Sep 15, 2005 12:36 am

Quoting Northernlights (Thread starter):
It is said that SK of course would break all the ties with Icelandair as soon as the FL group has acquired Sterling Airways. A dream scenario for the FL group would then be to become the major player on the Scandinavian market...

Would not be the first time!
Loftleidir, which is now part of Icelandair was the first true low cost airline. (Not South West) In the sixties SAS tried everything they could to have Loftleidir stopped, but it did not work. I will be interrested to see what happens.
 Big grin
 
CV747
Posts: 166
Joined: Wed Jan 26, 2000 11:23 pm

RE: FL Group (Icelandair) Now Interested In Sterling

Thu Sep 15, 2005 12:44 am

But, that means also that Icelandair is killing Island Express!
Fons are the owners and founders of Island Express which is being merged with Sterling. This means Icelandair has managed to become a monopolist once again.

 banghead 
 
Orion737
Posts: 3044
Joined: Sat Jan 08, 2005 10:14 pm

RE: FL Group (Icelandair) Now Interested In Sterling

Thu Sep 15, 2005 12:44 am

FI seems hell bent on growth and as it has only so many opportunities on its home turf its seems to want to gets its claws into other airlines.
 
northernlights
Posts: 85
Joined: Thu May 20, 2004 8:13 pm

RE: FL Group (Icelandair) Now Interested In Sterling

Thu Sep 15, 2005 3:53 am

Quoting CV747 (Reply 3):
But, that means also that Icelandair is killing Island Express!
Fons are the owners and founders of Island Express which is being merged with Sterling. This means Icelandair has managed to become a monopolist once again.

Just to remind you: Iceland Express has not merged with Sterling and Maersk Air at all. The two Danish airlines do merge, the effects of this merge were known later today this afternoon: the merger causes job losses with a figure of 230 jobs for Sterling. Source: http://www.mbl.is/mm/vidskipti/frett.html?nid=1158361

Just now on the TV news was also anounced that Fons apparently acquired Sterling and Maersk Air in order to offer the FL Group an interesting package to buy. It could have been that it was never the intention of Fons to hold on to these airlines, and what might even be more hilarious (but this is just my personal thought): maybe the FL group has been in this little scheme all along!  Wow!
 
BDKLEZ
Posts: 1687
Joined: Sun Jun 26, 2005 11:57 am

RE: FL Group (Icelandair) Now Interested In Sterling

Thu Sep 15, 2005 3:58 am

Quoting 747400F (Reply 1):
FI allready owns about 13.1% of easyjet!

FI doesn't, it's the FL Group (FI's parent) which owns the stakeholding.

http://www.flgroup.is/en/news/detail/store1/item129/
Trespassers will be shot; survivors will be shot again!

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