TR
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Maersk To Sell Its Shares In Martinair

Mon Jan 02, 2006 4:10 pm

The A P Moeller Maersk Group has announced its intension to sell the 50% of the shares in Martinair. The shares was previously belonging to P&O Nedlloyd which was taken over by the A P Moeller Maersk Group in 2005. Director Eivind Kolding, A P Moeller Maersk Group, says to Danish business paper 'Børsen' that the "50% stake in Martinair is likely to be sold within a foreseeable future". One should remember that the A P Moeller Maersk Group denied any plans to sell Maersk Air right until the deal was made. So a statement like 'likely to sell' its Martinair shares is seen as direct announcement of the plans to sell. There has until recently been rumors of the A P Moeller Maersk Group wanting to buy the KLM shares in Martinair and take full control of the compagny (or at least the cargo operations) and merge it with A P Moeller Maersk Group's cargo airline Star Air.
 
sk909
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RE: Maersk To Sell Its Shares In Martinair

Mon Jan 02, 2006 7:52 pm

What Maersk Group wants to do is always a mystery. One is certain, Maersk Group will keep a Cargo division.
I would think that Maersk would sell Martinair to TUI and keep the Cargo division for themselves. Maybe try to acquire the rest of the Cargo division from KLM.
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sk909
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RE: Maersk To Sell Its Shares In Martinair

Mon Jan 02, 2006 7:56 pm

BTW I thought that SAS Cargo had bought Star Air? But maybe I am wrong.

Any comments on this?
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747400F
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RE: Maersk To Sell Its Shares In Martinair

Mon Jan 02, 2006 8:17 pm

Quoting SK909 (Reply 2):
BTW I thought that SAS Cargo had bought Star Air? But maybe I am wrong.

Think you might have been confused with SKbuying the right to sell the cargo capasity on NB (sterling) which bought DM (Maersk Air) SK also bought Maersk Air Cargo which is/was a GSA for a lot of foreign carriers. But Maersk Air Cargo is something completely different from Star Air, which flies mostly for UPS with 757-200F and 767-200F
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kappel
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RE: Maersk To Sell Its Shares In Martinair

Mon Jan 02, 2006 8:25 pm

Quoting TR (Thread starter):
The A P Moeller Maersk Group has announced its intension to sell the 50% of the shares in Martinair

Wow, I wonder who will be the buyer, maybe KLM taking full control of them?
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sk909
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RE: Maersk To Sell Its Shares In Martinair

Mon Jan 02, 2006 9:06 pm

Quoting 747400F (Reply 3):
Think you might have been confused with SKbuying the right to sell the cargo capasity on NB (sterling) which bought DM (Maersk Air) SK also bought Maersk Air Cargo which is/was a GSA for a lot of foreign carriers. But Maersk Air Cargo is something completely different from Star Air, which flies mostly for UPS with 757-200F and 767-200F

Oh ok. Maybe that was what I read. Sorry for the confusion.

Quoting Kappel (Reply 4):
Wow, I wonder who will be the buyer, maybe KLM taking full control of them?

I don't think the EU will allow that. I think it said so in the article. Somthing about competition, or rather the opposite.
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kappel
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RE: Maersk To Sell Its Shares In Martinair

Mon Jan 02, 2006 9:58 pm

Quoting SK909 (Reply 5):
I don't think the EU will allow that. I think it said so in the article. Somthing about competition, or rather the opposite.

Interesting. Why does Maersk want to sell anyway? I thought MP was profitable enough.
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TR
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RE: Maersk To Sell Its Shares In Martinair

Mon Jan 02, 2006 10:12 pm

Quoting Kappel (Reply 6):
Why does Maersk want to sell anyway? I thought MP was profitable enough

Yes MP is profitable. However it seems that Maersk is not interested in (passenger) airline business anymore. It would seem logical to buy out the MP cargo operations and merge this into Star Air but I am not sure that KLM is willing to sell its stake in MP as KLM is also depending on the MP cargo operations. On the other hand KLM cannot buy Maersk's stake as this is blocked by EU. Maybe the ownership will remain unchanged for some time as both parties might be able to gain from this. And as said, MP is profitable so there should be no hurry in selling. But again you never know with Maersk.
 
vv701
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RE: Maersk To Sell Its Shares In Martinair

Tue Jan 03, 2006 11:14 am

Quoting TR (Thread starter):
One should remember that the A P Moeller Maersk Group denied any plans to sell Maersk Air right until the deal was made.

This was only during the confidential merger discussions with Sterling.

Moeller had been poring money into Maersk Air and Maersk Air UK (the BHX based BA franchise partner) since 2000. When the losses of both airlines mounted Maersk Air UK was sold to its management and became Duo Airways on 12 May 03. At that time Moeller publicly told Maersk Air that it had a couple of years to turn things around or it too would be sold.

As an interesting side comment I have always wondered why the management of Maersk Air UK who formed Duo Airways thought they could do better than they did as Maersk Air UK by ending the BA franchise agreement with all the worldwide clout that gave them. They terminated the agreement on 31 October 03. Then they survived exactly six months before being declared bankrupt (with no Chapter 11 Protection) on 1 May 04.
 
TR
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RE: Maersk To Sell Its Shares In Martinair

Tue Jan 03, 2006 4:36 pm

Quoting VV701 (Reply 8):
At that time Moeller publicly told Maersk Air that it had a couple of years to turn things around or it too would be sold.

This is correct. However not a word was said thereafter from the A P Moeller Group itself. The statement was nothing but a signal to the employees to help cutting costs and increase efficiency. Unfortunately Maersk Air never found a way to be profitable. The rest is history. But I for sure will miss the light blue aircraft that took me on many vacations in my childhood - and gave me my first flights.

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LJ
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RE: Maersk To Sell Its Shares In Martinair

Wed Jan 04, 2006 4:47 am

Quoting TR (Reply 7):
Yes MP is profitable. However it seems that Maersk is not interested in (passenger) airline business anymore. It would seem logical to buy out the MP cargo operations and merge this into Star Air but I am not sure that KLM is willing to sell its stake in MP as KLM is also depending on the MP cargo operations.

KLM will never sell it stake. It has made clear it wants MP's cargo operations aswell (nobody seems to care much about the pax operations). Mover, it doesn't want a competitor in its backyard (as there are potential buyers enough for MP).

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