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FME-2004-02 - INTRO
FME-2004-03 - START
FME-2004-04 - 737-300
FME-2005-04 - FLYME MD-87
FME-2005-08 - 737-33A
Established in 2003. Started operations in 2004. Regional & international, no-frills, scheduled & charter, passenger and cargo, jet airplane services.
Molndalsvagen 24, 5tr
SE-412 63 Gothenburg, Sweden
January 2004: Parent organization/shareholders: Array (44%); private investors (24%), Fredrik Skanselid (16%); other (13%); & Irish Life International.
737-3Q8 (24299, SE-RCS), (AWAS) (AWW) leased.
February 2004: 737-33A (23635, SE-RCO), (AWAS) (AWW) leased.
March 2004: Starts Stockholm (Arlanda) to Gothenburg, Malmo and Helsinki with 2 737-33A's. Plans for gradual expansion within Scandinavia and the rest of Europe and aims to take +2 737-300's by 5/04. In summer will increase frequencies, particularly the trunk Stockholm to Helsinki service.
737-33A (1595-24026, SE-RCR), (AWAS) (AWW) leased.
April 2004: Contract to (FLS) Aerospace (ATD) for line maintenance at Gothenburg and Stockholm Arlanda for its fleet of 737-300's.
In summer, Gothenburg and Stockholm (ARN) to Bosnia-Herzegovina and Croatia for Swedish tour operator Scandjet.
May 2004: Gothenburg to Nice (2x-weekly/Palma de Mallorca (weekly).
737-300 short-term wet-leased to Britannia (BRI) until 6/04 to cover for late delivery of airplane.
737-33A (1556-24025, SE-RCP), (AWAS) (AWW) leased.
July 2004: 110 employees.
September 2004: Stockholm (ARN) to Angelholm. Stockholm Arlanda to Angelholm/Helsingborg (737-300, 5x-weekly).
2 737-33AQC's (2159-25402, SE-DPB; 2172-25426, SE-DPC), Falcon Air (FLK) wet-leased.
February 2005: MD-87 (49403, SE-RBA), Nordic Regional (NOQ) wet-leased.
April 2005: 5-year component management contract for 4 737-400's to (SR) Technics (SWS) to provide component and line maintenance support, including guaranteed component availability and (AOG) support.
104 employees (including 36 Flight Crew (FC), 54 Cabin Attendants (CA), & 5 Maintenance Technicians (MT)).
November 2005: FlyMe (FME), the Gothenburg based low cost airline, announced it will add service to 12 destinations from Mar 30th. They are Alicante, Amsterdam, Chania, Dusseldorf, London, Malaga, Nice, Palma, Paris, Prague, Rhodos and Rome. The airline is planning to operate these routes with a fleet of 5 737-300s.
February 2006: Swedish Low-Cost Carrier (LCC), FlyMe (FME) has committed to acquiring Lithuanian Airlines, now rebranded as FlyLAL (LIJ). FlyMe (FME) will be issued a 33% stake in Lithuanian (LIJ) and gain control through the appointment of a new Managing Director and the majority of the board. It will purchase the remaining shares over the next 3 years. FlyMe (FME), headquartered in Gothenburg, launched 2 years ago and operates 5 737s. Lithuanian (LIJ), which was privatized last year, flies 5 737-500s and 2 Saab 2000s and runs its own jet airplane Maintenance Repair & Overhaul (MRO) operation.
March 2006: FlyMe (FME) is diversifying from its focus on Swedish service and will start offering low-fare flights from its base at Gothenburg Landvetter to 11 destinations in Europe beginning March 30. Destinations include London Stansted, Beauvais Tille, Nice, Amsterdam, Prague, Malaga, Alicante, Rome Ciampino, Palma de Mallorca, Rhodos and Crete Chania airport. From June 1, (FME) will launch the direct route Gothenburg - Barcelona. From its hub in Stockholm Arlanda, (FME) flies to Gothenburg Landvetter, Malmo Sturup, Ostersund and Helsinki Vantaa.
(FME) operates 5 737-300 airplanes, and announced last month it will acquire Lithuanian Airlines (LIJ) in full, subject to due diligence. The agreement was initiated by 2 major shareholders in FlyMe (FME), Icelandic investment company Fons and Sweden-based Cognition. New shares will be issued to FlyMe (FME) for 33% of the total. (FME) then will take control of (LIJ) with the appointment of a new Managing Director and the majority of the board of directors, including the Chairman. Under the agreement with (LIJ), (FME) will buy the rest of the shares during the next 3 years.
Lithuanian Airlines (LIJ) used to be government controlled until last year, when it was privatized and sold to a group of Lithuanian investors. (LIJ) has about 40% market share in Lithuania. It flies to 11 international destinations from Vilnius, with a fleet of 5 737-500s and 2 SAAB 2000s.
April 2006: FlyMe (FME) appointed Aviareps as its general sales agent in France, Italy and the Czech Republic.
June 2006: May's LF close to 70% LF.
Sweden's FlyMe (FME) reported a -SEK63.2 million/-$8.8 million loss in the 1st quarter ended March 31, a period it called "one of the most demanding and exciting" in its 2-year history. The loss was nearly 3 times heavier than the -SEK23.9 million reported in the year-ago quarter and reflected the (FME)'s significant commitment to growing its business. Toward the end of the quarter, it launched new services to 11 European cities, overhauled its airplanes and increased daily utilization from an average of 4 hours to 11 hours. It also signed an agreement to acquire (LIJ) which was renamed FlyLal.
(FME), which bases 5 leased 737s at Gothenburg Landvetter and Stockholm Arlanda, reported a +66% increase in revenues to SEK150.7 million, offset by a doubling of expenses to SEK192 million. Operating loss widened to -SEK64.8 million from -SEK24.3 million in the year-ago quarter. Domestic passenger traffic increased +53.6% to 100 million (RPK)s, against a +49.2% rise in capacity to 165.3 million (ASK)s, lifting load factor +1.8 points to 60.5% LF. (FME) flew 1.1 million international (RPK)s during the quarter, and 3.1 million (ASK)s, leaving load factor at a low 36.6% LF. It did not offer international flights in the year-ago quarter. In defense of its expansion, it said that "Actors in the Northern Europe low-price airline market agree that we are facing consolidation in the low-price branch. A low-price airline must attain a certain size within a limited time to attain sustainable profitability."
Gothenburg Landvetter to Barcelona.
July 2006: FlyMe (FME) is a Swedish low-fare operator from Gothenburg, Stockholm, and Malmo flying jet airplanes to destinations in a domestic route network, a connection to Finland's capital, Helsinki, and to other European destinations.
(IATA) Code: SH. (ICAO) Code: FLY.
Parent organization/shareholders: FlyMe Europe (public) (100%).
Owns: FlyLal (LIJ) (33%).
Main Base: Gothenburg Landvetter International Airport (GOT).
Hubs: Malmo Sturup (MMX); & Stockholm Arlanda (ARN).
Domestic, Scheduled Destinations: Angelholm/Helsingborg; Gothenburg; Malmo; & Stockholm.
International, Scheduled Destination: Helsinki. Also flies to and from 11 major European cities and vacation resorts including Alicante; Barcelona; Crete; London; Malaga; Nice; Palma de Mallorca; Paris; Prague; Rhodes; & Rome.
August 2006: FlyMe (FME) abandoned its Gothenburg Landvetter to Amsterdam route, citing a lack of profitability.
September 2006: FlyMe (FME) of Sweden will triple its fleet to 15 airplanes with the acquisition of 51% of Astraeus (AUA), a UK charter carrier, in a deal worth SEK82.7 million/$11.4 million expected to be completed within the next month. Astraeus (AUA) transports 800,000 passengers each year, employs 391 and boasts annual revenues of SEK1.2 billion. It operates 4 757-200s, 4 737-300s and 2 737-700s based at London Gatwick and Manchester, and flies several routes to Africa. (FME) has 5 737-300s. "There are great synergy effects between (FME) and Astraeus (AUA). The acquisition gives us more optimum utilization of our joint fleet due to the matching seasonal variations," newly appointed (FME) (CEO) Finn Thaulow said. This is (FME)'s 2nd major purchase this year. It bought a one-third stake in FlyLal (Lithuanian Airlines) (LIJ) in February.
November 2006: Fons Eignarhaldsfelag investment firm of Iceland, which owns Iceland Express (ICX), has acquired a 51% stake in the UK's Astraeus (AUA) for £5 million. Astraeus (AUA) operates 4 757s and 2 737-700s and is based at London Gatwick and Manchester International. Its board will be restructured, with a supervisory board comprising 2 representatives from Fons, 1 from Astraeus (AUA) management and 1 from minority shareholder Aberdeen Asset Management. Fons said Astraeus (AUA)'s revenue for the fiscal year ended October 31 is "expected to exceed" >£100 million.
Sweden's FlyMe (FME) had agreed to take the 51% stake in Astraeus (AUA) in September, but the deal fell through when it did not receive UK (CAA) approval in a specified time. The Stockholm Stock Exchange issued a release warning (FME) for "announcing a business transaction in such a way that it seemed to be signed and sealed, despite this not being the case."
March 2006: Sweden's FlyMe (FME) abruptly suspended all flights and announced it will file for bankruptcy "as soon as possible," following notification from the bank that handles (FME)'s online transactions, that sales were suspended that morning, and that >SEK60 million/$8.5 million in payments would be held as security. (FME) sold 95% of its tickets on its website. Parent FlyMe Europe AB said the bank would not reopen sales, unless the company "can demonstrate payment of the remaining amount of the rights issue, and that they consequently have been able to close the present rights issue." The FlyMe Europe board said, "They haven't got any objective proof that the payment will be made in a way so that the rights issue can be closed within the deadline set by the bank." The airline subsequently elected to suspend operations and leave its 6 737-300s parked at their bases. (CEO) Finn Thaulow told Sweden's "(TT) news agency" that the carrier did not possess the liquid assets required to continue operations, according to the Associated Press, which added that approximately 2,500 passengers were affected by the shutdown. (FME) served 4 Swedish and 15 European destinations and was headquartered in Gothenburg. It launched in 2004 and never was profitable. It attempted unsuccessfully to acquire Astraeus (AUA) of the UK last fall.
Denmark's Sterling Airlines (STR) said it immediately would begin operating to Stockholm Arlanda from Malmo and Gothenburg Landvetter, and would honor existing (FME) tickets. It also offered to return stranded (FME) passengers free of charge until March 11.
February 2011: ATR42-500 (606, 8Q-VAQ), bought from Air Dolomiti (DLA).
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FME-737-33A - 2004-11
1 737-3Q8 (CFM56-3B2) (1598-24299, /88 SE-RCS "VIRGO"), (AWW) LEASED 2004-01. 136Y.
2 737-33A (CFM56-3B1) (1436-23635, /88 SE-RCO "PISCES," 2004-02; 1556-24025, /88 SE-RCP, 2004-06; 1595-24026, /88 SE-RCR, 2004-03), (AWW) LEASED. 23635; 24025; RETURNED FROM (TUN). 23635, RETURNED TO (AWW), (FUA) WET LEASED TO AEROLINEA PRINCIPAL, CHILE AS (CC-CAL) ON 2007-06. 136Y.
1 737-33A (CFM56-3C1) (2069-25119, /91 G-STRJ), (AWW) LEASED 2005-04. (AUA) WET-LEASED 2006-12. 148Y.
0 737-33AQC (CFM56-3) (2159-25402, SE-DPB; 2172-25426, SE-DPC), (FLK) WET-LEASED 2004-09. RETURNED. 136Y.
1 737-5Q8 (CFM56-3C1) (2834-27629, /96 LY-AZW), EX-(LIJ), (ILF) LEASED 2006-04. 126Y.
0 MD-87 (JT8D-219) (1404-49403, /87 SE-RBA), EX-(SPP), (GEF) LEASED. (NOQ) WET-LEASED 2005-02. RETURNED. 120Y.
1 ATR42-500 (PW127E) (606, /OO 8Q-VAQ), EX-(DLA) 2011-02. 46Y.
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FME-FREDRIK SKANSELID MD
BJORN OLEGARD, BOARD CHAIRMAN (email@example.com).
FINN THAULOW, CHAIRMAN.
Born in 1953, Finn Thaulow worked in the (SAS) Group for 30 years, where he held numerous senior management positions both at the main office in Stockholm and internationally. From 1991 to 1994, he was Managing Director for European routes and has held several senior management positions in Asia. He has been a member of the board of directors and has had an active part in the management of Spanair (SPP) from 1999 to 2001. He left (SAS) in February 2006, when he was VP Alliances & Corporate Partners. He has devoted himself to investment activities in, among other things, the aviation industry.
FREDRIK SKANSELID, MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER (CEO) (firstname.lastname@example.org).
JORGEN CARLSSON, CHIEF FINANCIAL OFFICER (CFO) (email@example.com).
JOHANNES GEORGSSON, COMMERCIAL DIRECTOR & DEPUTY (CEO).