Humberside
Topic Author
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Joined: Sun Jan 01, 2006 12:44 am

Astraeus Sold (again), New Route To Monrovia

Mon Oct 30, 2006 4:47 am

Astraeus has been sold (again) to the owners of Iceland Express, Fons Eignarhaldsfelag. They will buy 51% of the company, the management and existing investor Aberdeen Asset Management having 24.5% each. Hidden in the notes to editors is the announcement of a new route to Monrovia. AEU's new Cape Verde flights are also doing well

Quote:
Fons Eignarhaldsfelag, the Icelandic investment company, has today entered into a binding agreement to acquire a majority shareholding in Astraeus, the niche UK airline based at London Gatwick with Aberdeen Asset Management and Astraeus Management. Aberdeen Asset Management is a major UK based Fund Manager with funds under management of US$140billion.

Fons is headed by Palmi Haraldsson and Johannes Kristinsson and has a number of aviation interests including Iceland Express. Palmi has a wide variety of other business ventures in the retail industry.

The arrangement will see Astraeus continue to operate its existing route structure from London Gatwick and Manchester, whilst at the same time providing back-of-house support and assistance to other airlines in Fons' expanding portfolio of investments. Exciting developments are in prospect, particularly in the Scandinavian arena, where Iceland Express has just announced an expanded route network of flights from Summer 2007.



Quote:
It is launching the first ever direct services between the UK and the Cape Verde Islands on Thursday 2 November - early signs are very encouraging as the inaugural flight between London Gatwick and the islands' main international airport at Sal is already fully booked.

Astraeus' development plans include launching additional specialist flights to serve the oil & gas industry, and opening up new markets in West and East Africa, an area long neglected by other British scheduled carriers. It will introduce the first direct flights for over 20 years between London and Monrovia, the capital of Liberia, on December 13. Further announcements on new routes and service developments are expected in the near future.

http://www.flyastraeus.com/news/

One question is will AEU take over the Iceland Express flying from Hello Airlines - AEU flew the Iceland Express routes when they first started flights

[Edited 2006-10-29 20:53:31]
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cwldude
Posts: 573
Joined: Mon May 08, 2006 2:17 am

RE: Astraeus Sold (again), New Route To Monrovia

Mon Oct 30, 2006 7:37 am

Hmn, not sure if all this movement in Astraeus is a good or a bad thing, sure, they're being introduced to lots of fresh ideas, but it can't be a good sign of management!

Nonetheless Im sure (and hope) that Astraeus have a bright future ahead  Smile
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ZuluTime
Posts: 154
Joined: Mon May 29, 2006 6:23 pm

RE: Astraeus Sold (again), New Route To Monrovia

Mon Oct 30, 2006 5:16 pm

The sale to Flyme never actually went through. There were some issues between the shareholders of Flyme - the Icelandic people who have now bought AEU were a shareholder in Flyme but are not any more.
 
gkirk
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RE: Astraeus Sold (again), New Route To Monrovia

Mon Oct 30, 2006 5:22 pm

They're also closing their LBA base.
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UAL777UK
Posts: 2107
Joined: Sun Nov 20, 2005 1:16 am

RE: Astraeus Sold (again), New Route To Monrovia

Mon Oct 30, 2006 5:29 pm

Well, all ~I can say is that I hope they havge a good future ahead. Having flown them a couple of times, once to Newfoundland and another to Corsica, those 757's with incredible legroom, coupled with great service onboard was first class.

All the best to them.
 
vfw614
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RE: Astraeus Sold (again), New Route To Monrovia

Mon Oct 30, 2006 5:48 pm

Do I remember correctly that Astraeus was the airline that provided Icelandexpress with aircraft until it was replaced by Hello ?

Anyway - is it reasonable to expect that Astraeus aircraft might end up operating on behalf of Icelandexpress ?
 
Humberside
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RE: Astraeus Sold (again), New Route To Monrovia

Tue Oct 31, 2006 4:56 am

Quoting Vfw614 (Reply 5):
Do I remember correctly that Astraeus was the airline that provided Icelandexpress with aircraft until it was replaced by Hello ?

AEU supplied the aircraft when Iceland Express started up but I think Jet X provided MD-80's for a while before Hello Airlines took over
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David_itl
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RE: Astraeus Sold (again), New Route To Monrovia

Tue Oct 31, 2006 8:05 am

Quoting Vfw614 (Reply 5):
is it reasonable to expect that Astraeus aircraft might end up operating on behalf of Icelandexpress

Don't think they've got enough 737s to operate their own programme and also the proposed new start-up Fly Gibraltar who are meant to be leasing a couple of 733s from them.
 
prebennorholm
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RE: Astraeus Sold (again), New Route To Monrovia

Tue Oct 31, 2006 9:05 am

Funny thing this Icelandic Fons Eignarhaldsfelag. Last year they bought Sterling here in Denmark, then Maersk Air, then merged them into Sterling.

And earlier this year they sold the whole of Sterling (with roughly 15 B737) to the Icelandic FL Group which is also the owner of Icelandair.

Wonder what ideas Fons Eignarhaldsfelag have with Austraeus?

I have used Iceland Express a few times, operated by Austraeus and JetX, and even one segment by Maersk Air before the takeover (because an Austraeus plane was broken). Always on time and very friendly cabin crew.

Going to Iceland I normally took the night flight leaving directly from work in a state of severe starvation. I enjoyed to be able to just order more and more quite delicious sandwiches instead of having to make do with the old style one size fits all plastic catering.
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