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FORMED AND STARTED OPERATIONS IN 1994. ACQUIRED THE ASSETS OF STERLING AIRWAYS (FOUNDED IN 1962), WHO WERE DECLARED BANKRUPT IN SEPTEMBER 1993. SCHEDULED & CHARTER, PASSENGER & CARGO, INTERNATIONAL, JET AIRPLANE SERVICES.
c/o Cimber A/S
6400 Copenhagen, Denmark
The Kingdom of Denmark was established in 800, it covers an area of 43,092 sq km, its population is 5.2 million, its capital city is Copenhagen, and its official language is Danish.
APRIL 1996: STERLING (STR) IS OWNED BY FRED OLSEN & COMPANY (100%).
1 727-200A (21202), EX-NORTHWEST AIRLINES (NWA), 44 MONTH LEASED (HAMILTON AVIATION, TUCSON, ARIZONA, INSTALLING FEDEX (FED) ENGINE HUSHKITS).
MAY 1996: 1 727-200 (JT8D-17R), EX-SPORTSFLIGHT (SHX).
JUNE 1996: 2 727-200'S (JT8D-17R/H) TO SOBELAIR (SBL).
SEPTEMBER 1996: 2 727-200'S (JT8D-17R/H) FROM SOBELAIR (SBL).
FEBRUARY 1997: 1 727-200F (JT8D-9A), EX-CONTINENTAL AIRLINES (CAL).
JUNE 1997: 3/1 ORDERS (APRIL 1998) 737-800'S, ILFC (ILF) LEASED, 189 PAX.
JULY 1997: SOLD 727 (QLOO1) TO SONIC, LEASED TO SUN COUNTRY AIRLINES (SCA).
AUGUST 1997: 1 727-200F (21688), EX-AEROLINEAS ARGENTINAS (ARG), FROM (TNT) TRANSPORT INTERNATIONAL (TNB) (HAMILTON AVIATION, ARIZONA, CONVERTED TO FREIGHTER).
NOVEMBER 1997: 2 727-200F'S (21688; 20659), BASED IN AND OPERATE OUT OF THE UK. BOUGHT 737-300 (24463) FROM WESTERN PACIFIC (WPA) AND LEASED BACK TO (WPA). SOLD 727-200 (QD427) TO VASP (VSP). 2 727-281'S (20571; 20725), 727-227 (21245), & 727-243 (21269), OPERATE FOR (TNT) INTERNATIONAL (TNB).
DECEMBER 1997: 737-300 (24463) "D" AIRPLANE MAINTENANCE CHECK, INTERIOR MODIFICATIONS, AND PAINT AT COOPESA (COO), COSTA RICA.
JANUARY 1998: LOOKING FOR 2ND 737-300. TO WET-LEASE 1ST 737-800 FOR 1 YEAR TO BRITANNIA AIRWAYS (BRI). NEW 737-800'S WILL HAVE NEW, ROYAL BLUE LIVERY WITH A BEACH BALL ON THE TAIL, AND NAME SHORTENED TO "STERLING." TAKES OVER OPERATIONS OF 4 727-200F'S, EX-HUNTING CARGO (HCA).
MARCH 1998: $8 MILLION CONTRACT TO (FLS) AEROSPACE (ATD) FOR COMPONENT SUPPORT FOR FLEET. (ATD) HAD ACQUIRED FORMER PEMCO OVERHAUL BASE IN COPENHAGEN.
1 727-200F (JT8D-7B), EX-NATION AIR (NAX).
APRIL 1998: 286 EMPLOYEES.
1 737-300 (DT526), (ILF) LEASED.
MAY 1998: CIMBER AIR WAS FOUNDED BY CAPTAIN INGOLF NIELSEN. THE AIRLINE PROVIDES DOMESTIC SERVICES AND INTERNATIONAL FLIGHTS IN CONJUNCTION WITH (SAS) AND LUFTHANSA (DLH).
(SAS) PURCHASED 26% OF CIMBER AIR AND EXPANDED ITS CODE SHARE AGREEMENT.
STERLING AIR 737-8Q8 (28213) LEASED TO BRITANNIA AIRWAYS (BRI). 1 737-300 (CFM56-3B2), EX-(TAP) AIR PORTUGAL.
JULY 1998: 737-382 (25162) DELIVERY.
AUGUST 1998: 2ND 737-8Q8 (28214), (ILF) LEASED.
OCTOBER 1998: 1 737-59D (26419), EX-BRITISH MIDLAND (BMA), SCANDINAVIAN AIRLINES (SAS) 7 MONTH, LEASED. 727-2M7 (21202), RETURNED FROM TRANSAER (TSD).
NOVEMBER 1998: 2 ORDERS (JANUARY 1999) 737-800'S (29444; 29445), ITOCHU AIRLEASED. 727-2B7 (22163) SOLD TO PEGASUS AVIATION, LEASED TO ALLEGRO (AEG).
JANUARY 1999: 2 737-85H'S (29444, OY-SEH; 29445, OY-SEI), DELIVERIES.
FEBRUARY 1999: SOLD 727-212 (21945) TO PREWITT LEASING.
MARCH 1999: 737-8Q8 (28221, OY-SEC), (ILF) LEASED.
APRIL 1999: 450 EMPLOYEES. SITA: CPHOPNB.
737-85H (29444) DAMP LEASED TO TRANSAVIA (TAV) UNTIL SEPTEMBER 1999. 737-5L9 (26419) RETURNED TO SCANDINAVIAN AIRLINES (SAS), LEASED TO LITHUANIAN AIRLINES (LIJ).
MAY 1999: 737-300 (24463) & 737-800 (28213) WET-LEASED UNTIL NOVEMBER 1999 TO BRITANNIA SWEDEN (TNS).
AUGUST 1999: 747-200F, ATLAS AIR (TLS) LONG-TERM, WET-LEASE, FOR 1ST DIRECT, ALL-CARGO SERVICE, FROM SCANDINAVIA TO USA.
LAST 727-200 (QD443) PASSENGER (PAX) AIRPLANE IS EXPECTED TO LEAVE BY END OF 1999. WILL CONTINUE OPERATIONS OF 8 727-200F'S.
SEPTEMBER 1999: PURCHASED 737-800 (28213) FROM (ILF). 737-85H RETURNED FROM TRANSAVIA (TAV) (29444, OY-SEH). 727-2M7 (21202) RETURNED TO PEGASUS.
MARCH 2000: 1 747-200F, ATLAS AIR (TLS) WET-LEASED, FOR CARGO SERVICE TO DUBAI.
APRIL 2000: 473 EMPLOYEES.
FREIGHTER SERVICES ARE ALSO OPERATED ON TNT (TNB)'S BEHALF USING (TNT) AIRPLANES.
MAY 2000: 2 737-300'S (24463; 25162), WET-LEASED TO BLUE PANORAMA AIRLINES (BPA).
JULY 2000: 1 ORDER (FEBRUARY 2001) 737-800, (ILF) 8 YEAR LEASED, WET-LEASED TO BLUE PANORAMA AIRLINES (BPA) UNTIL NOVEMBER 2000.
SEPTEMBER 2000: PLANS SERVICE TO SPAIN (737-800). IN NOVEMBER 2000, FROM STOCKHOLM & COPENHAGEN, TO MALAGA AND ALICANTE (737-800).
WILL RETIRE 2 737-300'S.
OCTOBER 2000: SOLD 737-3YO (24463, OY-SEE) TO BLUEBIRD CARGO (BLS).
NOVEMBER 2000: CHANGES COMPANY LOGO FROM THE BEACHBALL TO A NEW GRAPHIC DESIGN CONSISTING OF SEVERAL SQUARES ARRANGED IN A PATTERN, THAT APPEARS TO RESEMBLE A WING. SEE IT AT (http://www.sterling.dk).
JANUARY 2001: IN MARCH 2001, COPENHAGEN & STOCKHOLM, TO NICE AND ROME.
FEBRUARY 2001: 1 737-8Q8 (28237, OY-SED), (ILF) LEASED.
MARCH 2001: LARS SVENHEIM, PRESIDENT, ANNOUNCES HIS INTENTIONS TO RETIRE, SUBJECT TO HIS REPLACEMENT BEING FOUND.
APRIL 2001: 473 EMPLOYEES.
727-200F (QA037) RETURNED TO PACIFIC AIR CORPORATION. 737-300 (PQ307) RETURNED TO LESSOR, LEASED TO AERIS (AEY). 1 737-85H (29444, OY-SEH) WET-LEASED TO AIR BERLIN (BER).
MAY 2001: JOHNNY OVERBYE, 44 YEAR OLD, PRESIDENT & (CEO) REPLACES LARS SVENHEIM (58), WHO RETIRED.
1 737-85H (29445, OY-SEI) WET-LEASED TO TUNIS AIR (TUN) UNTIL OCTOBER 2001.
JULY 2001: 1 737-85H (29444), WET-LEASED TO ISRAIR (ISA) THROUGH OCTOBER 2001. 1 727-281F (20571, OY-SEV), SOLD TO PEGASUS (PSS).
OCTOBER 2001: STOCKHOLM (ARLANDA)/COPENHAGEN - LAS PALMAS. ALSO ARLANDA/COPENHAGEN - MALMO - LAS PALMAS.
JANUARY 2002: 2001 = 710,000 PASSENGERS (PAX); 84% LF LOAD FACTOR.
STOCKHOLM - BARCELONA AND GOETEBORG - ALICANTE/MALAGA.
BECOMES A DISCOUNT AIRLINE WITH OPERATIONS MAINLY TO SOUTHERN EUROPE. IN MARCH 2002, TO BARCELONA, PALMA DE MALLORCA, AND CRETE.
IN 2001, FLEW 700,000 PASSENGERS (PAX) BETWEEN SCANDINAVIA & SOUTHERN EUROPE.
MARCH 2002: OSLO - MALAGA & ALICANTE. COPENHAGEN - OSLO (737-800). STOCKHOLM - BARCELONA.
June 2002: To Stockholm (ARN) (2/week).
October 2002: Stockholm (ARN) - Funchal, Gothenburg - Malmo - Funchal (2/week).
December 2002: In May 2003, Oslo (Gardermoen) to Milan (Orio al Serio). Billund to Malaga and Nice, Oslo to Nice, Rome (Ciampino), Palma de Mallorca, Gothenburg (Landvetter), and Barcelona.
1 order (February 2003) 737-800.
January 2003: 2002 = 980,000 passengers (PAX); 81% LF load factor (-3).
March 2003: (SAS) sold its 26% stake back to Cimber Air Holding.
2 orders (May 2003) 737-700, Maersk Air (MRS) wet-leased 4 months.
May 2003: Sterling Air operates with an all blue livery 737-8Q8 (28237, OY-SED) has "Sterlingticket.com" above window line.
June 2003: 480 employees. (email@example.com).
July 2003: Oslo - Las Palmas (weekly) until April 2004.
1st 6 months = 475,000 passengers (PAX) (+47%); 82% LF load factor.
August 2003: 2002 = nearly 1 million passengers (PAX).
Contract with Denmark's largest tour operator Star Tour for summer season.
2 orders (October 2003) 737-800's (CFM56-7B26), Boullioun (BOU) medium term leased.
December 2003: Joins European Low Fares Airline Association (ELFAA), including Air Berlin (BER), Basiq Air (TAV), FlyBe (BEE), Flying Finn (FFW), Hapag Lloyd Express (HLX), Ryanair (RYR), Sky Europe (SKP), Sterling (STR), Sverigefly, and VolareWeb (VLR).
Billund - Malaga (weekly). In April 2004, Billund - Palma de Mallorca (weekly). In June 2004, Copenhagen - Kos (weekly).
Last month, placed its 1st blended winglet 737-800, Boullioun (BOU) leased, into service. 2nd will join the fleet in March 2004, & +2 provided by (CIT) (TCI) leasing in April & May 2004. To add +5 737-800's (for total 13) for its summer 2004 program. Contract with Star Tour, Denmark's largest tour operator, to transport 130,000 passengers during the season.
January 2004: 2003 = 1.35 million passengers (PAX) (+37%); 79% LF load factor (-2).
February 2004: In March 2004, Copenhagen - Beauvais (3/week). In April 2004, Copenhagen - Prague (3/week).
737-86Q (30292, OY-SEK), Boullioun (BOU) leased.
March 2004: In June 2004, Stockholm (ARN) - Ibiza (weekly).
April 2004: 737-8BK (33018, OY-SEL), CIT (TCI) leased.
May 2004: In October 2004, Billund - Tenerife (Sur) (weekly). Billund, Copenhagen - Arrecife (weekly). In November 2004, Oslo - Beauvais (weekly). Billund - Las Palmas (2/week). In March 2005, Stockholm (ARN) - Prague (2/week).
737-4YO (25168), Islandsflug (ISF) wet-leased. 737-8BK (33019, OY-SEM), (TCI) leased.
September 2004: In February 2005, Copenhagen - Faro (2/week); - Budapest (2/week). Stockholm (Arlanda) - Bologna (2/week). Resumes Stockholm (ARN) - Nice. In March 2005, resumes Copenhagen - Praha, - Palma de Mallorca (3/week). In April 2005, Billund - Chania (2/week). In May 2005, Copenhagen - Rhodes (weekly); - Bologna (2/week); - Gothenburg (5/week); - Samos (weekly). Resumes Bergen - Alicante (weekly). Resumes Stavanger - Malaga (weekly); - Alicante. Resumes Billund - Barcelona; - Palma de Mallorca (weekly); - Nice (weekly).
November 2004: Low-fare airline alliance formed with Norwegian (NWG) (http://www.norwegian.no).
December 2004: In April 2005, Oslo - Montpellier. In May 2005, Copenhagen - Edinburgh; Oslo - Athens (weekly); Copenhagen - Montpellier.
January 2005: Proportion of scheduled passengers booking their flights on the Internet amounted to 85% for 2004.
In February 2005, Copenhagen - Faro, & Budapest. Later in the year to Edinburgh and Montpelier.
March 2005: Sterling (STR) has been sold to Icelandic investment company Fons Eignarhaldsfelag for 400 million kroner/$71.5 million. Fons previously has been a large shareholder in Icelandair (ICE) and is the current owner of low-cost carrier Iceland Express (ICX).
June 2005: 2 orders (October 2005) 767-300's leased to start long-haul flights, including Copenhagen - Orlando for the upcoming winter schedule. Also plans Copenhagen - Salzburg (weekly).
July 2005: To merge with Maersk Air (MRS), creating Europe's 4th-largest low-fare airline after Ryanair (RYR), easyJet (EZY), and Air Berlin (BER). Currently, some 64 airlines serve Copenhagen in a home market of fewer than 10 million.
The new owner of Maersk Air (MRS) is Fons Eignarhaldsfelag, an Icelandic investment group controlled by Palmi Haraldsson and Johannes Kristinsson, who purchased Sterling (STR) for DKK 400 million/$71.5 million in March 2005 from Bonheur ASA and Ganger Rolf ASA. It also owns Iceland Express (ICX) and at one point was a large shareholder in Icelandair (ICE). The new owners named Almar Orn Hilmarsson, Managing Director, 32, ex-Iceland Express (ICX).
The merged airline will operate a fleet of 30 737-500/-700/-800's comprising 10 currently flown by (STR) and 20 belonging to (MRS). There is considerable route overlap, but the 2 serve 80 discrete destinations and carried a combined 5 million passengers in 2004. (MRS) will continue to operate its airfreight business.
The two carriers employ 1,875 with 627 at (STR) and 1,248 at (MRS). Redundancies will occur in clerical and management staff, but significant layoffs are not anticipated among production staff such as flight crew (FC) and maintenance technicians (MT).
It will take another 2 months for the conditions to be finalized and the merger closed.
September 2005: Danish competition authorities approved the purchase of the commercial activities of Maersk Air (MRS) by Fons Eignarhaldsfelag hf of Iceland and the merger between (MRS) and Sterling Airlines (STR). The successor company (STR). "I am very pleased that the agreement is in place. This means that many jobs are now secure and a competitive airline company has been created for the benefit of our customers. Finally we can realize the many possibilities and advances ahead of us," (STR) (CEO) Almar Orn Hilmarsson said in a statement. Integration of the carriers will take about 18 months, (STR) said. The (MRS) brand will continue to be used for a short period. The combined airline operates 30 airplanes and becomes the largest Low Cost Carrier (LCC) in Scandinavia and the fourth-largest in Europe, carrying 5 million passengers annually.
Icelandair (ICE) owner FL Group said that it is in talks with (STR) owner Fons Eignarhaldsfelag on an investment in or purchase of (STR) and (MRS). Fons received regulatory clearance to move forward with the purchase of the air assets of (MRS) from A P Moeller last week. Talks between (ICE) owner FL Group and (STR) owner Fons Eignarhalsfelag over a possible merger or acquisition may be close to fruition. According to Danish media, FL Group will acquire (STR), which itself is being merged with (MRS) of Denmark. FL Group (ICE) also owns 13.01% of easyJet (EZY).
October 2005: Flexing its muscle following its acquisition of Maersk Air (MRS), Sterling (STR) announced it intends to open a base in Helsinki next spring and offer services to 11 European destinations from the Finnish capital.
(STR) initially is allocating 2 737-700s to the base. Flights will start on March 27 to Barcelona, Bologna, Budapest, Chania, Edinburgh, Faro, Malaga, Nice, Paris Beauvais, Prague and Rome Ciampino. Ticket sales began yesterday with prices from €79 one way.
"Since it was taken over by [Fons Eignarhaldsfelag], (STR)'s goal has been to be aggressive in the market and continue to open new routes," Almar Orn Hilmarsson, Managing Director said. "There is no doubt that (STR) can gain a large market share in the Finnish low-cost market. However, our experience indicates that the market will grow in parallel with the share we take. Accordingly, we expect that there will still be room in the future for all the current low-cost players in the market."
(STR), which claims to be Europe's 4th-largest low-cost airline following its acquisition of (MRS), will set up a base at Helsinki next spring. (STR) will initially allocate 2 737-700s to the base, which will operate to 11 new routes: Barcelona, Bologna, Budapest, Chania, Edinburgh, Faro, Malaga, Nice, Paris Beauvais, Prague and Rome Ciampino. Flights will start on March 27. The new Helsinki base will give (STR) a presence in each of the 5 Nordic capitals as part of its ambition to become the largest (LCC) in the Nordic countries.
Since it was taken over by Icelandic Fons hf, (STR)'s goal has been "to be aggressive in the market and continue to open new routes," Managing Director Almar Orn Hilmarsson said. "There is no doubt that (STR) can gain a large market share in the Finnish low-cost market. However, our experience indicates that the market will grow in parallel with the share we take. Accordingly, we expect that there will still be room in the future for all the current low-cost players in the market."
FL Group, parent of Icelandair (ICE), as expected, reached agreement with (STR) parent Fons Eignarhaldsfelag to acquire (MRS) for DKK1.5 billion/$241 million including DKK1.1 billion in cash and DKK400 million worth of shares in FL Group.
The purchase price is subject to (STR)'s achieving EBITDA for 2006 of at least DKK345 million. Should it fall short, the price may be reduced by up to DKK500 million. Conversely, it may be increased if (STR) exceeds its cash flow target. FL will take over operation of the carrier on January 1, subject to approval of relevant competition authorities.
(STR), which recently absorbed (MRS), will be operated as an independent company focusing on charter and tourism markets with an emphasis on southern Europe. (STR) operates 30 737s and expects to carry 5.2 million passengers next year. Palmi Haraldsson will continue as Chairman of (STR)'s board with Almar Orn Hilmarsson staying on as (CEO).
In tandem with the purchase, FL Group proposed a share offering to raise ISK44 billion/$733 million, boosting equity to ISK65 billion. Offer price is ISK13.6 per share and the company has received pledges for ISK39 billion, with the remaining ISK5 billion to be sold in a fully underwritten stock offering.
"With this share capital increase, we are making a fundamental change in the company," said former FL Group Chairman Hannes Smarason, who replaced Ragnhildur Geirsdottir as (CEO). "Our aim is to become a leading significant influence investor, with focus on Europe." After the acquisition of (STR), annual revenues will be ISK100 billion.
The FL Group has been restructured to separate airline and tourist service operations from investment activities. The Icelandair Group will handle Icelandair (ICE), Icelandair Cargo, Loftleioir-Icelandic, Icelandair Technical Services and Icelandair Ground Services. In combination, these companies represent about a 3rd of total FL Group turnover and employ around 2,000. Jon Karl Olaffson, currently (ICE) (CEO), is now head of the Group.
Bluebird Cargo (BLS) and Flugflutningar will be combined in a separate subsidiary. Companies involved in domestic tourist activities make up the 3rd grouping, with (STR) being the 4th.
The investment activities likewise have been separated into three divisions: Private Equity, Asset Management and Portfolio Investments, and Icelease, which will be involved in aircraft leasing and finance activities.
The FL Group, parent of (ICE) and (STR), raised its stake in easyJet (EZY) from 13.99% to 16.18%.
November 2005: (SAS) Cargo finalized its purchase of Sterling Airline (STR)'s cargo capacity, adding approximately +30,000 tons to (SAS) Cargo's annual European capacity.
Denmark will abolish its €10/$11.78 passenger tax. The cut will cost the country approximately €70 million annually, but the government hopes to recoup that loss with more capacity and tourism, Jyllands-Posten reported. "It will create jobs in the service sector and it is a good thing for the regional development," Liberal Party spokesperson Jens Rohde said. Ryanair (RYR) and (STR) each have said recently that they were reluctant to add flights to Denmark because of the tax.
December 2005: The European Commission (EC) cleared the acquisition of sole control of Copenhagen Airports of Denmark by Macquarie Bank Group subsidiary Macquarie Airports Copenhagen. Copenhagen Airports owns and operates airports in Kastrup and Roskilde. The operation was examined under the simplified merger review procedure.
January 2006: Copenhagen Airport reduced its takeoff charge for cargo flights by -3% on January 1 and introduced a cap on cargo flight charges to the first 200 tons. The new rate is DKK63.25 ($10.25) per 1,000 kg or part thereof. It will rise to DKK63.90 in 2007 and DKK64.55 the following year.
Cirrus Airlines took over the 3 daily Sterling (STR) flights from Billund to Frankfurt.
February 2006: Sterling (STR), Europe's 4th-largest Low-Cost Carrier (LCC), transported 2.7 million passengers in 2005 at a load factor of 77.3% LF. The carrier's September merger with Maersk Air (MRS) renders year-over-year comparisons less meaningful. "(STR)'s goal for 2006 is to consolidate the route network to strengthen its position. (STR) is also expected to show a profit in 2006 and that will be achieved by the turnaround we are undergoing now in connection with our corporate integration," Communications Manager Niels Brix said. (STR) plans to offer up to 2 daily departures on its most popular routes from Copenhagen, including Berlin, Amsterdam and London. It has ended service to Vienna.
Copenhagen Airport handled 19.98 million passengers in 2005, up +5% compared to 2004. Scheduled traffic grew by +4.2% to 18.5 million passengers, while the number of charter passengers rose by +14.3% to 1.5 million.
March 2006: Sterling (STR) launched a new website March 2 allowing passengers to reserve flights, hotels, rental cars and concert tickets as part of the same transaction.
(STR) launched 3x-weekly Copenhagen - Edinburgh service on Mondays, Wednesdays & Fridays, using a 737-500. On March 26th the frequency doubles to 6x-weekly, daily except Saturdays. (STR) also will launch 2x-weekly Edinburgh - Helsinki service beginning March 27 on Thursdays & Sundays, using a 737-700.
April 2006: Amadeus said Sterling (STR) is pioneering the Amadeus Ticketless Access product, "a technology solution [providing (LCC)s with] comprehensive access for the 1st time to sales through travel agents and corporate customers." According to the Global Distribution System (GDS) provider, Amadeus Ticketless Access "enables up-to-the-minute fare and flight information from ticketless carriers to be displayed alongside those of full-service airlines" through (GDS)s. It also eliminates "an estimated €3 - €5/$3.70 - $6.20 per booking in added technology costs currently faced by (LCC)s that distribute through this channel." (STR) VP, Business Development & Information Technology (IT), Michael Hansen said, "We have often been outspoken critics of the costs associated with traditional (GDS)s but Amadeus Ticketless Access is a truly pioneering tool to help us extend our reach and distribution. It is a genuine change in the industry."
May 2006: FL Group, the investment firm that owns Icelandair (ICE), Sterling Airlines (STR) and other air transport and tourism companies, reported a 1st-quarter net profit of +ISK5.84 billion/+$82.9 million, a result that compared to a profit of +ISK25 million in the year-ago quarter and "highlight[s] FL Group's focus as an investment company specializing in strategic and private equity projects as well as hedge fund activity." During the quarter, the FL Group completed its acquisition of (STR), which was announced last fall and purchased a 6% stake in Finnair (FIN). It also made plans to list Icelandair (ICE) Group on the Icelandic Stock Exchange.
(ICE)'s pre-tax loss of -ISK677 million was improved from a loss of -ISK1.05 billion in the year-ago quarter. (STR) lost -ISK1.8 billion before taxes, a result that widened to a -ISK2.6 billion loss, including restructuring charges.
The FL Group said of its airlines, "The performance of the Icelandair Group is exceptional with a seasonal loss which is much lower than the year before. The (STR) turnaround is ahead of schedule and we are pleased with the progress they are making, bearing in mind the significant seasonality of the business."
The (SAS) Flight Academy is moving into larger facilities in Copenhagen and adding 2 full flight simulators, a 737NG and an MD-80. The training center also signed a contract with (STR) to be the exclusive training provider for its pilots (FC) and cabin personnel (CA) through 2010.
(STR) implemented the Sabre Rocade Airline Operations Suite of products, becoming the first European carrier to combine Rocade with Sabre's (EC) Slots slot request and management module.
June 2006: Sterling Airways (STR) will discontinue operations at Helsinki Airport because of the lack of passengers. (STR) operates 8 routes from the airport. While most routes will end by mid-August, the Malaga route will continue through the end of October 2006.
July 2006: MD-82 (49555, TF-JXA), Iceland Express (ICS) wet-leased, see photo.
August 2006: The FL Group, the Reykjavik-based parent of Icelandair (ICE) Group, Sterling Airlines (STR) and other aviation and tourism businesses, reported a 2nd-quarter net profit of just +ISK118 million/+$1.7 million, narrowed from a profit of +ISK1.9 billion in the year-ago period. (CEO) Hannes Smarason cited "extremely turbulent" capital markets in the quarter as well as "difficult market conditions and seasonality in operating companies" through the 1st half of the year to explain the reduced results. But Icelandair (ICE) Group had its best-ever 1st half, with net income of +ISK3.86 billion for the 6 months ended June 30, including a 2nd-quarter net profit of +ISK1.56 billion.
(STR), which was acquired officially by the FL Group in the 1st quarter, reported a pre-tax loss of -ISK2.53 billion for the 1st half but pre-tax income of +ISK320 million for the 3 months to June 30. "The (STR) turnaround is moving according to plan while record high fuel prices and increased competition remain challenging."
The FL Group decreased its investment in air transport somewhat in the quarter by selling its 16.9% stake in easyJet (EZY).
Icelandair (ICE) announced a winter reduction of its USA services, including suspension of 4x-daily service from Reykjavik to Baltimore/Washington International and Minneapolis-St Paul from January 9 to March 15. Also as of January 9, it will decrease weekly flights to Boston from 7 to 4 and New York (JFK) from 5 to 4. "(ICE)'s success on the transatlantic route from the USA since 1948 has been due to our ability to quickly and easily adapt to fluctuations in the market," General Manager Americas Gunnar Eklund said, adding that projections of reduced yields and load factors on transatlantic routes during the period forced the decision.
(STR) will add service from Copenhagen to Krakow (3x-weekly from September 19) and Geneva (2x-weekly from December 30). (STR) will launch 6x-weekly London Gatwick - Aalborg service on September 18 with 737-500s/737-700s.
Aircastle Investment Holdings said that 1 of its subsidiaries agreed to acquire 6 737-700s leased to (STR) from affiliates of the AP Moeller-Maersk Group for an estimated $165 million. 4 of the acquisitions were completed August 17 and Aircastle expects to finalize the remaining 2 by August 31.
September 2006: Sterling (STR) will inaugurate nonstop service from Aalborg to London Gatwick on September 18th, operating 6x-weekly, daily except Saturdays, using a 737-500. (STR) will resume nonstop service from Copenhagen to Florence on March 1st and operate 2x-weekly, on Thursdays & Sundays, using a 737-500.
October 2006: Sterling.dk (STR) is a Scandinavian low-fare carrier, operating scheduled services in Scandinavia and to leisure destinations in southern Europe, together with European tour charters to the Mediterranean.
Employees = 1,630 (including 344 Flight Crew; & 722 Cabin Attendants (CA)).
(IATA) Code: NB - 373. (ICAO) Code: SNB (Callsign - STERLING).
Parent organization/shareholders: FL Group (100%).
Alliances: FlyNordic (NOQ); Norwegian (NWG); & SkyEurope Airlines (SKP).
Main Base: Copenhagen Kastrup Airport (CPH).
Hubs: Billund airport (BLL); Oslo Gardermoen airport (OSL); & Stocholm Arlanda airport (ARN).
Domestic, Scheduled Destinations: Billund; & Copenhagen.
International, Scheduled Destinations: Alicante; Amsterdam; Barcelona; Bergen; Berlin; Bologna; Budapest; Edinburgh; Faro; Gothenburg; Lanzarote; Las Palmas; Malaga; Montpellier; Murcia; Nice; Oslo; Palma de Mallorca; Paris; Prague; Rome; Stavanger; Stockholm; & Tenerife.
(STR) will inaugurate nonstop service from Stockholm Arlanda to London Gatwick on March 19th, operating 6x-weekly, daily except Saturday, using a 737-700.
January 2007: Serial airline investor, the FL Group (ICE) was busy over the holidays, announcing that it had purchased a 5.98% stake in American Airlines (AAL) parent (AMR) Corporation for >$400 million and selling Sterling Airlines (STR) for €210 million/$277 million in cash and a 3-year shareholder loan to Icelandic consortium Northern Travel, of which the FL Group (ICE) is a member.
The FL Group (ICE) now is AMR's 3rd-largest shareholder with 12.8 million shares. It said it has been building the stake "for a considerable period of time" and made the announcement once it exceeded the 5% reporting threshold.
"We believe the (AMR) Corporation is well positioned to take advantage of the growing USA air travel market," FL (ICE) (CEO), Hannes Smarason said. "The supply-demand balance has improved considerably over the last several years and the company enjoys one of the best positions in the industry to take advantage of that as well as to build auxiliary revenues."
FL (ICE) sold stakes in Icelandair (ICE) and easyJet (EZY) last year and holds 23% of Finnair (FIN). Acquired in late 2005 following its merger with Maersk Air (MRS), (STR) was the last of FL (ICE)'s wholly owned airline subsidiaries.
Northern Travel, comprising Fons (44%), FL (ICE) (34%) and Sund (22%) will be a "major force" in travel and tourism in Northern Europe, Smarason said. The sale includes the entirety of Iceland Express (ICX), 51% of UK-based Astraeus (AUA) and portions of Swedish and Danish travel agencies.
"The sale of (STR) into the larger leisure group is a logical step to increase the value of (STR)," FL (ICE) said. Northern Travel expects to realize €1.26 billion in turnover and transport 7.5 million passengers this year. "We believe that this unique combination of assets will have a great effect on the Nordic travel and tourism market," Northern Travel Chairman, Palmi Haraldsson said. "The company is heavily represented in all the Nordic countries and intends to increase its representation through various means."
February 2007: Berlin Airports announced that Tempelhof International Airport (THF) will close on October 31, 2008, following a decision by the Higher Administrative Court of Berlin-Brandenburg. The number of airlines serving the airport has fallen to single digits - - Brussels Airlines (EBA)/(DAT), Sterling Airlines (STR) and Cirrus Airlines (RUS) are the largest - - and last month's throughput was down -45.4% year-over-year to just 26,500 passengers. Berlin Airports CEO, Rainer Schwarz said the company has lost -€115 million/-$149.4 million on (THF) in the past decade. Airlines will be allowed to transfer to either Schoenefeld or Tegel.
March 2007: Starting March 25th, Stockholm - London Gatwick (LGW), using 737-700s. Sterling Airlines (STR) will operate 3x-weekly flights from Copenhagen to Edinburgh May 15 to September 7, aboard a 737-500; to Biarritz May 14 to October 25, aboard a 737-500; and to Oslo Gardermoen May 15 to August 31, aboard a 737-700.
Following Sweden's FlyMe (FME) abruptly suspending all flights and announcing it will file for bankruptcy "as soon as possible," Denmark's (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.
1 order 737-7K9 (34401, OY-MRP), Bavaria Leasing (BAV) leased.
May 2007: Starts Copenhagen - Biarritz, - Edinburgh, using 737-500s; - Oslo, Oslo - Biarritz, using 737-700s. Starting October 28th, Copenhagen - Brussels, using 737-500s/737-700s, Oslo - Brussels, using 737-300s, Stockholm - Brussels, using 737-700s.
Sterling Airlines (STR) announced the October 28 launch of flights from Oslo Gardermoen to Paris Charles de Gaulle, London Gatwick and Copenhagen as well as a Stockholm Arlanda - Nottingham East Midlands service. Frequencies were not disclosed. (STR) operates 25 737s.
(STR) signed a labor agreement with its pilots (FC) this month that it said represented the final step in the merger of (STR) and Maersk Air (MRS).
737-7K9 (34402, OY-MRR), Bavaria Aircraft Leasing (BAV) leased.
July 2007: A J Walter Aviation (AJW) said that Essential (EAMS), the Denmark-based Maintenance Repair & Overhaul (MRO) specialist formed from the technical department of Sterling Airlines (STR), awarded (AJW) a 5-year power-by-the-hour support agreement for 2 737-300s owned by Jet Time (JTM).
(STR) announced the delivery of Aviation Partners Boeing (APB) blended winglet shipsets for 7 737-700s and 1 737-800. It also has options on a further 8 and already operates 4 winglet-equipped 737-800s.
October 2007: Sterling Airlines (STR) will open its 7th base in Malmo, where it will base 2 737s and fly to London Gatwick, Barcelona, Alicante, Florence and Nice, beginning March 10.
December 2007: (ILFC) (ILF) announced a leasing deal with Sterling Airlines (STR) for 1 737-700 powered by (CFM56-7B24)s, to be delivered next February under an 8-year lease.
January 2008: Sterling Airlines (STR) announced the following new summer routes: Copenhagen to Trieste, Olbia, Naples, Montpellier, Varna, and Edinburgh; Stockholm Arlanda to Edinburgh, Naples, and Burgas; Billund to Prague, and Olbia; Gothenburg to Burgas.
Copenhagen Airports supervisory board said it plans to invest DKK1 billion/$196.1 million in 2008 to improve check-in facilities, gates, airplane stands, baggage facilities, and security, among others. The airports operator will add +150 employees this year.
February 2008: NAVIAIR, the Danish (ANSP), has gone through the transition process now making the new Thales (THL)-supplied EUROCAT system fully operational since December 2007. The (DATMAS) contract was awarded to Thales (THL) in June 2202 for the supply of the latest state-of-the-art integrated EUROCAT air traffic management system. With close to 80 air traffic controller (ATC) positions, these new centers will provide a complete en-route and terminal control capability for the airports of Copenhagen, Roskilde, and Billund. NAVIAIR has been working with (THL) for many years and will now benfit from a fully proven system that has demonstarted its operational capabilities in 16 European countries. (THL) has supplied a total of 260 air traffic control (ATC) centers worldwide, all designed to comply with international standards abd meet customers' requirements for enhanced air traffic safety and security. The Danish EUROCAT system will enhance traffic capacity, safety and security, offering NAVIAR controllers a complete set of latest-generation tools, including advanced flight plan functionalities, eg: trajectory profile and Medium Term Conflict Detection (MTCD) working in 4 dimensions.
March 2008: Sterling Airlines (STR) named JPMorgan executive Reza Taleghani as President & (CEO), succeeding Almar Orn Hilmarsson, who has held the posts for the past 2.5 years and is resigning. "We are very pleased to get Reza on board to lead (STR) to the next level on its future growth path. Reza's extensive experience within the airline industry, both from the strategic as well as the financial perspective, is very valuable for the company," Chairman, Thorsteinn Orn Gudmundsson said. (STR) also named Christian Gormsen as its new (COO), replacing John Robertson.
(STR) will launch weekly seasonal Copenhagen to Trieste on May 17; summer flights to Athens from Oslo Gardermoen (from June 24), Stockholm Arlanda (ARN) (June 24), Gothenburg (May 10), and Copenhagen (CPH) (March 2), and 2x-weekly summer flights to Naples from (CPH) and (ARN) on April 5.
April 2008: Sterling Airlines (STR) managed to reduce its full-year net loss drastically to -DKK34 million/-$7.2 million in 2007, narrowed from the -DKK166 million deficit it posted in the prior year. Revenue decreased -0.8% to DKK3.89 million, as average fare fell -5.2% to DKK805. Ancillary revenue per passenger, however, increased +55.4% to DKK101. "We are very proud of our company's development despite the tough operating environment in aviation. Our (EBITDA) of DKK15 million last year was an improvement of >DKK134 million from 2006. While fuel prices remain a challenge, we look forward to continuing on this positive trajectory as Sterling (STR)'s recent product improvements take hold," President & (CEO) Reza Taleghani said, adding that (STR) is "now very focused on getting a positive net income for 2008."
Passengers carried rose +2% to 4.4 million, and load factor gained +2 points to 76% LF.
This month, (STR) unveiled a new logo, livery, airplane interior and ad campaign. The silver "S" logo is reminiscent of the one introduced at the airline's founding in 1962, and features on the tail of an all-red paint scheme.
SEE ATTACHED PHOT0 - - "STR-737-7L9-2008-04."
(STR) appointed Fredrik Kinnunen as Director Direct Sales.
July 2008: Norwegian (NWG) unveiled a cooperation agreement with Copenhagen (CPH)-based, Sterling Airlines (SRT) that will feature reciprocal code sharing on (CPH) to Oslo Gardermoen (OSL) and (CPH) to Stockholm Arlanda (ARN) flights, beginning September 15. From the end of October, the agreement will extend to 6 additional European destinations from (OSL) (operated mostly by (NWG)), and 4 from (ARN), (operated mostly by (STR)).
(STR) no longer will staff bases permanently at Aalborg, Billund, Malmo, and Gothenburg Landvetter from January 1 and will focus on its operations at Copenhagen, Stockholm Arlanda, and Oslo Gardermoen, (STR) announced. "Both the management and the unions of (STR) are working together to avoid dismissals," it said, claiming the decision was made "in order to concentrate its efforts and make the company more efficient." Affected employees who do not accept a voluntary redundancy package will be relocated to the 3 remaining bases, although (STR) will continue to fly to the airports. "This demands that we gather our operations around the 3 central bases while allocating more resources to updating our fleet and optimizing our routes," President & (CEO), Reza Taleghani said. "We are designing the [voluntary redundancy] plans to be attractive enough to attract the necessary number of employees."
August 2008: Sterling Airlines (STR) reappointed Almar Orn Hilmarsson President & (CEO), replacing Reza Taleghani (after just 5 months). The former JP Morgan executive took over from Hilmarsson in March after the latter had been at the post for nearly 3 years. The move coincides with a change in the shareholding of Northern Travel Holding, which bought (STR) in December 2006 from the FL Group. Northern Travel now is fully owned and controlled by Palmi Haraldsson, who "will from now concentrate his activities in the travel and aviation industry, and has plans of bringing in a substantial amount of new capital," (STR) said. The leisure group was established at the end of 2006. Its initial shareholders were Fons (44%), FL Group (34%) and Sund (22%).
Multi-crew pilot license (MPL) pioneer, (STR) has dismissed the world's 1st 9 (MPL) first officers (FC) to have reached line flying as part of cutbacks forced on it by high fuel prices and the economic downturn. The dismissal had nothing to do with the pilots' (FC) skills, but (STR) was applying the "last-in, 1st-out" principle that most carriers employ when faced with the need for redundancies.
See attached articles - - "STR-MPL PILOTS-2008-08-A/B/C."
October 2008: Sterling Airlines (STR), owned by Iceland's Northern Travel Holding, cancelled all flights and filed for bankruptcy, blaming decreasing demand, rapidly rising fuel prices, and the Iceland financial crisis for its collapse. (STR), which operated 24 737NGs and 3 737 Classics, all leased, said shareholders were committed financially into 2009, and had injected DKK444.5 million/$74.8 million over the summer to fund restructuring. But "over a 3 to 4 week period, the whole [Icelandic] financial system melted down, and that resulted in our shareholder being unable to continue his support." It said it had discussions with additional investors, "but it was impossible to make ends meet." Northern acquired (STR) from the FL Group in December 2006.
(STR), which merged with Maersk (MSK) in 2005, posted a loss of approximately -DKK33.6 million in 2007. It carried 4.3 million passengers last year to 40 destinations from eight bases.
Following the announcement, Norwegian (NWG) said it will base 2 airplanes at Copenhagen (CPH) from November 6 and operate flights to Aalborg (3x-daily), Alicante (2x-weekly), Malaga (2x-weekly), and Nice (3x-weekly). It started 4x-daily service to Stockholm Arlanda and said tickets for flights from (CPH) to London, Amsterdam, Rome Fiumicino, Krakow, Prague, Barcelona, and Pisa will go on sale "shortly." The base will expand to 8 to 10 737-800s by May. "Our very strong third-quarter results prove that our business model is sustainable, even in rough times for the industry, and with over DKK1 billion in equity, we are well funded for the expansion into Denmark," (NWG) (CEO) Bjorn Kjos said. Spanair (SPP) said it temporarily will deploy A321s in Scandinavia in order to assist stranded Sterling (STR) passengers, and will increase frequencies on certain routes next summer.
Copenhagen Airports (CPH) will construct a low-cost carrier (LCC) terminal designed to "provide new opportunities for growth for the airlines during these difficult times and more cheap fares to choose from for the passengers," (CEO) Brian Petersen said. Passenger charges for airlines using (CPH) "SWIFT" will be half those applied to carriers using Kastrup's main infrastructure. Airlines wanting to fly "SWIFT" will have to meet a number of efficiency requirements, including a 30-minute turnaround, while passengers will be expected to check in mainly via the Internet, a mobile phone or at self-service kiosks. The (LCC) terminal will be an extension of existing facilities and have 6 airplane stands, with an initial capacity of 6 million passengers annually, and the potential to double that if the need arises. Passengers will use (CPH)'s central security checkpoint and the existing baggage sorting system, helping to keep construction costs at around DKK200 million/$36.3 million. Construction is expected to commence in early 2009 and operations are expected to start in the summer of 2010.
December 2008: Denmark's Cimber Air acquired bankrupt Sterling Airlines (STR)'s air operating certificate (AOC), slots and brand, among other assets, and plans to relaunch the carrier and extend its European presence. The purchase does not include airplanes, leases of which will be negotiated with present owners. Cimber plans to put 2 737s back into service in January and 6 to 8 in the long term. It will operate the airline under the Sterling (STR) name and said it hopes to rehire a portion of Sterling (STR)'s former workforce.
January 2009: Cimber Air, which acquired bankrupt Sterling Airlines (STR)'s assets last month, will relaunch the carrier at Copenhagen (CPH) as "Cimber Sterling" "with a few" of the former (STR)'s 737s, it announced. (STR) will add 16 new international routes from (CPH), comprising 56 weekly flights scheduled to start in late March. Destinations include Montpellier and Bourgas.
June 2009: ST Aerospace will provide maintenance-by-the-hour (MBH) component support to Cimber Sterling (STR). The 5-year, $18 million contract covers support and access to a stock of rotables on an exchange basis in support of its fleet of 5 737NGs.
September 2009: Copenhagen Airport (CPH) announced an agreement with airlines to freeze charges from October 1 through March 2011 and to invest >DKK2.6 billion/$509 million in infrastructure expansion and improvements during the period. For the ensuing 4 years, charges will be subject to annual increases equivalent to the consumer price index plus 1%. (CPH) is cutting the takeoff charge by -25% but increasing the passenger fee by +18.6%. It also will impose a NOx-based emissions charge that has not been finalized.
December 2009: Cimber Air merged into Cimber Sterling (STR).
2 737-7K9s (34401, ET-ANG; 34402, ET-ANH), to Ethiopian Airlines (ETH) and wet-leased to ASKY Airlines (AKY).
January 2010: Lufthansa (DLH) Systems signed a 5-year deal with Cimber Sterling (STR) to provide Lido RouteManual navigation charts and the Lido TakeOff performance analysis solution.
June 2010: 737-5L9 (28084) TO Air Mediterranee (AMV) as (F-HCOA).
August 2010: Cimber Sterling (STR) has announced several new routes from its Danish bases and has added a 2nd ex-Binter Canarias (BIC) ATR 72-500 again:
Aalborg to Antalya: weekly seasonal, 737-700 service started on March 28;
Aalborg to Chania: weekly seasonal, 737-700 service started on May 21;
Billund to Antalya: 2x-weekly seasonal, 737-700 service started on March 28;
Billund to Dublin: 4x-weekly, CRJ-200 service started on March 31;
Billund to Palma de Mallorca: weekly seasonal, 737-700 service has started on May 9;
Billund to Prague: 3x-weekly, CRJ-200 service started on April 29;
Copenhagen Kastrup to Amsterdam: 2x-daily, 737-700/ATR 72-200 service starting on November 1;
Copenhagen Kastrup to Antalya: 3x-weekly, 737-700 service started on March 28;
Copenhagen Kastrup to Bastia: weekly seasonal, 737-700 service between July 6 and August 17;
Copenhagen Kastrup to Bordeaux: 2x-weekly, 737-700 service started on July 5;
Copenhagen Kastrup to Belgrade: 2x-weekly, 737-700 service started on March 29;
Copenhagen Kastrup to Istanbul Sabiha Gökcen: 2x-weekly, 737-700 service starting on November 2;
Copenhagen Kastrup to Madrid: 3x-weekly, 737-700 service started on March 29;
Copenhagen Kastrup to Sofia: 2x-weekly, 737-700 service started on April 1;
Copenhagen Kastrup to Tel Aviv Ben Gurion: 3x-weekly, 737-700 service starting on November 1;
Copenhagen Kastrup to Thessaloniki: weekly seasonal, 737-700 service started on June 22;
Copenhagen Kastrup to Zurich: daily, 737-700 service starting on November 1.
(STR) has given up plans to lease 2 additional 737-700s and has also returned 2 CRJ-200s to the lessors. (STR) has terminated services on its Copenhagen Kastrup to Wroclaw route on March 26.
October 2010: Delta (DAL) TechOps signed a 3-year "multimillion" contract with Cimber Sterling (STR) to provide time and materials services for 11 (CFM56-7B) engines and (GTCP131-9B) (APU)s, >one-third of the fleet’s engines.
May 2011: Cimber Sterling (STR) issued a profit warning and said it needs to strengthen its capital base “due to the continued surplus capacity in the airline industry and the resulting low profitability.”
(STR) now expects to report an operating loss before special items for the 2010 to 2011 fiscal year ended April 30 in the range of DKK190 to DKK200 million/$36 to $38 million. The adjustment follows a previous lowering of its guidance in March to an operating loss before special items in the range of -DKK125 to -DKK145 million. Net deficit for the nine months ended January 31 was -DKK128.9 million, despite a +28% increase in passengers carried to 1.6 million and a +25% increase in revenues to DKK1.47 billion. It posted a net loss for the fiscal year ended April 30, 2010 of -DKK228.9 million.
To strengthen its cash resources, (STR) sold 3 of its 14 owned airplanes in early December and in March signed an agreement with (GEM) Global Yield Fund for a 3-year equity capital commitment of DKK300 million against the issuance of new shares. The agreement will take continuous effect from Fiscal Year (FY) 2011 to 2012 and is subject to approval by the shareholders on June 8.
July 2011: Cimber Sterling (STR) operates as a low-cost carrier (LCC) with flight services linking 8 Scandinavian cities. (STR) also operates low-cost scheduled services to >30 destinations in Austria, Bulgaria, Croatia, the Czech Republic, France, Germany, Greece, Italy, Poland, Switzerland, and the UK. (STR) aims to serve both the business and leisure traveller with flights servingt both major European cities and holiday destinations across the Mediterranean basin, in the Canary Islands and Madeira. Charters and airplane leasing services are also offered.
Employees = 820.
Parent organization/shareholders: Cimber Sterling Group (100%).
Alliances: Scandinavian Airlines (SAS).
(IATA) Code: QI. (ICAO) Code: CIM - (Callsign - CIMBER).
Main Base: Copenhagen Kastrup Airport (CPH).
Hubs: Aalborg Airport (AAL), and Billund Airport (BLL).
August 2011: Denmark's Cimber Sterling (STR) said that Mansvell Enterprises completed the agreed capital injection of around DKK165 million/$31.8 million, giving Mansvell approximately 70.8% of the share capital and voting rights in the financially struggling airline. It "therefore has obtained control of the company," (STR) stated. Mansvell is 75%-controlled by Ukrainian businessman, Igor Kolomoisky. It also owns regional airline, Skyways/Avia Express Sweden, operating out of Stockholm, and City Airline, operating out of Gothenburg.
December 2011: Copenhagen Airport reported that it handled 1.76 million passengers during November, an increase of +43% over 2010.
January 2012: Cimber Sterling (STR) has launched 2x-daily, 737-700 service from Copenhagen Kastrup to Kiev Borispol on October 30 replacing services previously operated by sister carrier Aerosvit Airlines (UKA). Aerosvit (UKA) now code shares on the new services. (STR) has however given up its routes from Billund to Antalya, Chania, Malaga, Nice, Palma de Mallorca, and Prague as well as from Copenhagen Kastrup to Alicante, Amsterdam, Athens, Larnaca, Sofia, Split, Thessaloniki, and Venice Marco Polo by the end of October. Its Billund to Munich services will end on March 23. (STR) has announced plans to retire its 737-700 fleet over the next couple of years and to concentrate on flights within Scandinavia. (STR) and Skyways are expected to be combined in a new holding company called the Nordic Aviation Group but are expected to continue to operate as independent carriers for now. The Nordic Aviation Group plans to operate just 2 airplane types in the medium term.
(STR) has wet-leased qone of its ATR 42-500s to Senegal Airlines (SNG) for regional services 1 of Dakar.
March 2012: Cimber Sterling (STR) and sister carriers Avia Express (based at Stockholm Arlanda airport (ARN)) and City Airline ((IATA) Code: CF, based at Gothenburg Landvetter airport (GOT)) (which both operate for Skyways ((IATA) Code: JZ, based at Stockholm Arlanda airport (ARN)) will start sharing their fleets this summer and allocate airplanes to different routes based on demand. For now, Avia Express will operate a Fokker F 50 for Cimber on domestic routes in Denmark, while City Airline will serve some of its services from Copenhagen Kastrup airport (CPH) to Norrköping Kungsängen airport (NRK) and Prague Ruzyne airport (PRG).
April 2012: Cimber Sterling (STR) will cut -200 out of 980 jobs between now and October as it phases out its 6 737-700s. It has already parked its 1st of 6 737-700s (28008, OY-MRE).
May 2012: Cimber Sterling (STR) has filed for bankruptcy and suspended operations in the morning of May 3. The Danish carrier originally founded in 1950 as Cimber Air had operated 5 737-700s, 9 CRJ-200s, 6 ATR 72-200/-500s and 2 ATR 42-500s on a network with a main focus on domestic routes in Denmark but also a variety of other regional routes as well as longer flights to leisure destinations. It had operated from bases at Aalborg (AAL), Billund (BLL) and Copenhagen Kastrup (CPH) airports and leaves several key domestic routes in Denmark such as the routes from Copenhagen to Billund, Karup (KRP), Rønne (RNN) and Sønderborg (SGD) unserved. Its partner (SAS) Scandinavian Airlines is also affected as Cimber Sterling (STR) operated 4 CRJ-200s on behalf of (SAS) on a variety of regional routes from Copenhagen. Cimber was controlled by Mansvell, a Cyprus based investment holding owned by Ukrainian billionaire, Igor Kolomojskyj, but an additional capital injection expected in April has not taken place anymore. Mansvell also owns City Airline and Skyways in Sweden, which are not directly affected by the bankruptcy filing of Cimber Sterling (STR).
At the time of the airline’s bankruptcy, (STR) was operating a total of 27 routes, of which 19 were from its main base at Copenhagen. The busiest routes (in terms of weekly departures) were also its only 6 domestic routes, all from the country capital Copenhagen, to Aalborg, Aarhus, Billund, Bornholm, Karup and Sønderborg. These services accounted for 60% of the airline’s total flights, and 55% of its weekly seat capacity. (STR) was the only carrier on 4 of these routes.
Cimber Sterling (STR) served 15 routes with at least daily flights. Both Norwegian (NWG) and (SAS) provided competition on some of the routes while (CSA) Czech Airlines (on Copenhagen to Prague), Flybe (BEE) (on Copenhagen to Stockholm Bromma) and Vueling (VUZ) (Copenhagen to Barcelona) were also competitors on some of (STR)’s main international services. From Copenhagen, the international destinations served were Antalya, Catania, Chania, Naples, Nice, Palma de Mallorca, and Växjo.
Within hours, other airlines have been quick to announce their entry on selected routes. (DAT)- Danish Air Transport ((IATA) Code: DX, based at Kolding Varndrup airport (EKVD)) has instantly commenced operations on 2 domestic routes (Copenhagen to Sønderborg, Ronne airport (RNN), Bornholm), while British Airways (BAB)’s franchisee, Sun-Air of Scandinavia will launch 3 international routes to Stockholm and Oslo next week. Norwegian (NWG) has also announced its return to the route between the Danish capital and Karup from Sunday May 6, as reported by the Danish aviation news source "check-in.dk." (NWG) also intends to increase frequencies on routes on which it has competed with Cimber Sterling (STR); Barcelona, Rome Fiumicino, Malaga, Nice, and Prague.
Norwegian (NWG) has taken over the Copenhagen Kastrup (CPH) to Karup (KRP) route on May 6 from bankrupt competitor, Cimber Sterling (STR) offering up to 4x-daily 737-300 services on the route. It had previously served the route in competition with (STR) between January 2010 and October 2011 and then pulled out given the route could not sustain two carriers.
At the moment, that leaves only one Danish airport without domestic flights; Billund. However, developments are fast, and Flybe Nordic has reportedly also indicated intentions to announce domestic Danish routes imminently.
Flybe Nordic (IATA) Code: FC, based at Helsinki Vantaa airport (HEL) has announced its interest in entering the Danish domestic market following the demise of Cimber Sterling (STR).
Sun-Air ((IATA) Code: EZ, based at Billund (BLL)) has announced plans to take over the Aalborg (AAL) to Oslo Gardermoen (OSL), Billund (BLL) to Oslo Gardermoen (OSL) and Billund (BLL) to Stockholm Bromma (BMA) routes from bankrupt (STR). The new Billund to Bromma services replace the (STR) route to Stockholm Arlanda (ARN). Sun-Air already operates to Oslo and Stockholm Bromma from Aarhus Tirstrup (AAR).
Later, Cimber Sterling (STR) said it will sell part of the company to former management and another part to former Ukrainian owner Mansvell.
An a related announcement, Sweden’s Skyways Express (JZ) and subsidiary City Airline (CF) have stopped all flights and will file for bankruptcy, according to their website. (CF) was acquired by (JZ) last November. “The owners of the company have decided not to fund the company any longer and therefore the board of directors was forced to decide to stop all payments and to stop all flights,” the airline said.
(JZ) and Denmark’s Cimber Sterling (STR) are both owned by Cyprus-based Mansvell Enterprises, which is 75% controlled by Ukrainian businessman Igor Kolomoisky. “We have come far in turning the company around but after the bankruptcy of Cimber (STR) it became almost impossible to continue,” (CEO) Mikael Wångdahl said.
(JZ) operated out of Stockholm with a fleet of 12 Fokker F 50s, 2 Saab 340s, 1 Saab 2000 and 1 B Ae 146.
(CF) operated out of Gothenburg with 7 Embraer ERJ-145s, 2 EMB-135s and 1 MD-80.
The Swedish Pilot Association expects that up to 350 (FC) jobs could be affected.
Cimber Sterling (STR) has been acquired by its several current and former members of its management team lead by Jørgen Nielsen (CEO), Alex Dyrgaard (CFO) and Jacob Krogsgaard (CCO) that will now manage the carrier. It will continue to operate as a wet-lease (ACMI) carrier operating up to 5 CRJ-200s on a wet-lease agreement with (SAS) Scandinavian Airlines. It is currently also negotiating with several airlines, reportedly including (SAS); about potentially operating some ATRs on their behalf.
June 2012: Bornholmerflyet (Rønne (ICAO) Code:(RNN)) is a new division of (DAT) - Danish Air Transport ((IATA) Code: DX, based at Kolding Vamdrup airport (EKVD)) that it has set-up in cooperation with local investors from the Danish island of Bornholm. (DAT) has taken over the Copenhagen Kastrup (CPH) - Rønne airport (RNN) route following Cimber Sterling (STR)’s demise and currently operates up to 7 daily, ATR 72-200 services on the route.
July 2012: Cimber ((IATA) Code: QI, based at Sønderborg airport (SGD)) will add a single ATR 72 to its fleet of 4 CRJ-200s currently operated on a wet-lease agreement on behalf of (SAS) Scandinavian Airlines. It will use the ATR 72 to operate up to 5 daily flights from Copenhagen Kastrup (CPH) to Billund (BLL) airport on behalf of (SAS) from August 13. Cimber's precedessor, Cimber Sterling (STR) used to operate on the route itself.
December 2013: Cimber ((IATA) Code: QA, based at Sønderborg) (STR) has secured a contract with (SAS) Scandinavian Airlines ((IATA) Code: SK, based at Copenhagen Kastrup) in which it will operate its sole remaining ATR 72-200 (437, OY-CIB), on Oslo Gardermoen to Billund flights beginning March 30, 2014. The announcement comes after Cimber (STR) recently announced the lay off of 24 employees due to the planned return of its other ATR 72-200 (192, EC-LSN) to its lessor, Swiftair ((IATA) Code: WT, based at Madrid Barajas) (SWF). Cimber (STR) lost out to rivals Jet Time ((IATA) Code: JO, based at Copenhagen Kastrup) in a recent tender for (SAS) regional flights. Jet Time won the contract by leveraging its brand new ATR 72-600s' improved efficiency.
February 2014: 2 CRJ200s (7661, OY-RJL; 8064, EC-JOY), ex-(OY-RGL & C-FHCW), Air Nostrum leased.
October 2014: Danish carrier Cimber (STR) looks set to cease operations in April next year following a decision by (SAS) Scandinavian Airlines not to renew its wet-lease contract.
December 2014: Scandinavian Airlines (SAS) has struck a deal to acquire 100% of Danish regional airline Cimber (STR), which was set to close in April 2015 after losing its long-standing (SAS) wet-lease agreement.
February 2015: Scandinavian Airlines (SAS) is in the final stages of acquiring Danish regional carrier Cimber (STR) for DKK20 million/$3 million, after receiving approval from the Danish Competition and Consumer Authority.
(SAS) President & (CEO) Rickard Gustafson said: “With formal approval now in place, we look forward to making rapid progress in establishing the company as an efficient airline specializing in regional air traffic. We will build a simple, focused and flexible organization that is able to deliver (SAS)’s well-known product to our customers with punctuality, service and many departures.”
(SAS) has appointed Kent Hansen as the new President of Cimber (STR), succeeding the current President, on March 1. Hansen is currently Head of the division at the Danish Transport Authority’s Center for Aviation. His appointment as accountable manager is dependent on approval from relevant authorities.
(SAS) has also appointed Kjetil Grønevik as Finance Director.
Under terms of the acquisition, (SAS) will transfer 12 Bombardier CRJ900s to Cimber (STR), with the transfer due for completion March 1.
March 2015: News Item A-1: Scandinavian Airlines (SAS) estimates that a 5-day walkout over plans to transfer regional jet cabin crew (CA) to newly acquired Cimber (STR) will set it back -SEK50 million/-$5.8 million.
“On February 24 and between February 27 and March 2, (SAS) cancelled 334 flights to/from Copenhagen due to work stoppages, in breach of contract, by parts of (SAS)’s cabin crew (CA). This is expected to have a negative impact on earnings of -SEK50 million,” (SAS) said at the release of its 1st-quarter results.
In December, (SAS) detailed plans to fully acquire Danish regional Cimber (STR), its long-term wet-lease supplier, for DKK 20 million/$3.3 million. Sønderborg-headquartered Cimber (STR)’s own operations (which were slated to close in April 2015) were discontinued and (SAS) transferred its 12 Bombardier CRJ900s to (STR) on March 1. The 12 CRJs were previously operating on (SAS) mainline’s air operator’s certificate (AOC) out of Copenhagen.
“(SAS) has no plans to move other airplanes than 12 CRJs into the company Cimber (STR),” (SAS) said.
Members of the (CAU) cabin crew union, protesting against their transfer to Cimber (STR), staged a walkout in late February and early March. (SAS) tried repeatedly to get the cabin crew (CA) to return to work, insisting they would be employed on the same terms, but (STR) said the (CAU) broke off negotiations, missed several deadlines and ignored every kind of escalation aimed at halting the walkout.
Ultimately, (SAS) secured a labor court injunction and threatened to terminate the contracts of any workers not reporting for duty, forcing the end of the strike.
(CAU) said 27 of its members remain suspended after the walkout. “We have repeatedly asked (SAS) to provide evidence that would warrant suspensions, but we have seen nothing,” the union said. The union has taken the case to the Danish Employers’ Association and has warned that (SAS) could be fined over the suspensions.
The new set-up comes in response to new industry standards (including contract employment, self-employment and staffing agencies) which (SAS) said has “radically” changed competitive conditions.
“The acquisition of Cimber (STR) has been completed and will comprise the basis for (SAS)’s regional jet production. In (SAS)’s production model, the majority of traffic for the larger traffic flows will be produced under (SAS)’s own traffic license, while smaller flows will be managed through internal and external wet leases. The production model will provide (SAS) with scope to adapt production to seasonal variations and demand,” (SAS) said.
Beyond the 12 in-house CRJ900s, (SAS) also has regional flying contacts with in-house carrier Blue 1 (BLF), Braathens (BRT), Flybe (BEE), Jet Time (JTM) and Wideroe) in which (SAS) recently sold part of its stake.
February 2016: "Cimber Cancels Flights Due to Pilot (FC) Shortage" by (STR) Alan Dron, February 2016.
(SAS) Scandinavian Airline’s Danish subsidiary, Cimber (STR) will cancel 760 services through mid-May as it fights to overcome a shortage of pilots (FC).
(SAS) acquired Cimber (STR) in December 2014 to handle regional and short-haul flights on thinner European routes, using a fleet of 12 Bombardier CRJ900s. (SAS), the Scandinavian mainline carrier transferred some pilots (FC) over to the new subsidiary, but expansion at the parent company means many are returning, leaving gaps in Cimber (STR)’s aircrew (FC) workforce.
“Some of those pilots (FC) had already been with (SAS) and had it in their contracts the right to come back if expansion occurred,” (SAS) Head of Media, Knut Morten Johansen said.
Instead of trying to plug gaps in schedules as they occurred, he said, a decision was made to cancel the services through May to give some more certainty to services and passengers.
No routes will be abandoned, Johansen said, but frequencies would be thinned out.
Most of the routes affected are intra-Danish, or in and out of Denmark. The number of canceled flights should be put in context of the total of 130,000 that would be flown by (SAS) over the 3-month period, he said.
The (SAS) group as a whole was recruiting 220 pilots (FC) to cope with its expansion and had received >1,750 applications for the posts; the problem was the time required to train pilots (FC) on the CRJ900s.
“We’re not satisfied with [the situation], but we are dealing OK with it,” he said.
(SAS) believes it will resolve the situation by summer, he added.
January 2017: Irish regional airline CityJet is to acquire Scandinavian Airlines’ (SAS) Danish regional subsidiary Cimber (STR) and has signed a conditional purchase agreement for 6 Bombardier CRJ900s, plus 4 options.
Dublin-headquartered CityJet already operates 8 CRJ900s on wet-lease to (SAS) from Stockholm and Helsinki, as part of its October 2015 acquisition of Finland-based Blue1 from (SAS).
(SAS) is now also disposing of Cimber (STR) so it can focus mainline operations on larger traffic flows, operated by a more uniform aircraft fleet, delegating thinner routes to regional partners.
“The divestment of (STR) is in line with our strategy to simplify and focus on (SAS)’s own production platform. Thanks to synergies between CityJet and Cimber (STR), the production cost for (STR) production will be further reduced, creating the conditions to maintain and develop regional routes,” (SAS) President & (CEO) Rickard Gustafson said, announcing the agreement on January 24.
CityJet will take control of Cimber (STR) on January 31. CityJet will then add (STR)’s (SAS) wet-lease activities to its own contract with (SAS), which has been extended from 3 to 6 years effective January 31.
CityJet will continue to operate (STR)’s Copenhagen network (covering 30 European destinations) for (SAS) using Cimber (STR)’s current fleet of 11 CRJ900s, which will ultimately be replaced by the provisional aircraft order announced in tandem with the acquisition.
Bombardier (BMB) valued the agreement (which is expected to be firmed on January 31) at $280 million, potentially rising to $467 million if the options are firmed.
CityJet is a relatively new CRJ operator. The 8 aircraft it already operates will be joined by a further 4 that were previously ordered in early 2017, taking its existing fleet to 12 of the type. The 11 Cimber aircraft will give CityJet to a total to 23 CRJ900s, but those 11 aircraft will be sold between February and mid-2017 and replaced by the 6 CRJ900s and 4 options announced January 24. The replacement aircraft will be delivered from the 2nd half of 2017 through to the beginning of 2018.
The CRJ900 fleet will be operated exclusively on behalf of (SAS), in (SAS) colors and crewed by CityJet staff. In total, (SAS) will contract 22 CRJ900s from CityJet through this transaction. “This new (SAS) contract and the growth delivered by the acquisition of Cimber (STR) advances CityJet’s stated strategy of building its role as a provider of regional jet capacity to airlines across Europe and follows our successful inauguration of services on behalf of (SAS) in March 2016,” CityJet Executive Chairman Pat Byrne said.
(SAS) acquired full ownership of Copenhagen-based (STR) in February 2015 to secure “more focused and flexible regional production.” (SAS) will take a SEK20 million/$2.3 million hit from the sale during the 1st quarter of 2016 - 2017.
CityJet, which is active in scheduled flying, wet-lease work and ad-hoc charters, has been through several transitions over the last few years. Air France (AFA) sold the airline to German investor Intro Aviation, which in turn sold CityJet to the airline’s original founder Pat Byrne and a consortium of private investors in March 2016. The Irish carrier was previously in talks to acquire UK regional Stobart Air, but these negotiations ended without agreement.
Beyond the CRJs, CityJet has 17 Avro RJ85s and is also a Sukhoi (SSJ) Superjet operator, with 15 SSJ100s coming on lease and options on an additional 16. In late 2016, Byrne said he expected to firm half of the SSJ options in 2018.
SEE ATTACHED "STR-2012-04 BANKRUPTCY" WHICH IS AN APT DEPICTION OF THIS SAD EVENT AT (STR) ILLUSTRATED USING THE RECENT RECORD SALE OF $119.9 MILLION FOR EDVARD MUNCH'S "THE SCREAM" PAINTING BY SOTHEBY'S.
Click below for photos:
STR-CRJ900 - 2016-01.jpg
0 727-224F (JT8D-7B) (979-20659, /73 OY-SEY), EX-(CAL), (ECC) LSD. RTND. FREIGHTER.
0 727-227 (JT8D) (1202-21245, /76 OY-SET), EX-(BNF), (AAV) LSD, RTND 2001-12.
0 727-232F (JT8D) (927-20639, /73 OY-SER), EX-(DAL), (PSS) LSD, (TNB) OPS. RTND.
0 727-243 (JT8D) (1230-21269, /76 N1269Y), EX-(ALI), (AAV) LSD. RTND.
0 727-251 (JT8D) (690-19977, /69 OY-SES), EX-(NWA), (PSS) LSD, (TNB) OPS, SCRAPPED 2002-12.
0 727-281F (JT8D) (884-20571, /72 OY-SEV; 958-20725 /73 OY-TNT), EX-(ANA), (PSS) LSD, (TNB) OPS. 20725 RTND (PSS) 2001-03. 20571 2001-07 TO (PSS).
0 727-287F (JT8D-7B HK) (1415-21688, /78 OY-SEW), EX-(ARG), (PSS) LSD, (TNB) OPS, WFU 2001-12, RTND TO (PSS).
0 737-236 HGW (JT8D) (654-22027, /80 OY-SEE), (BAB) WET-LSD 1995-04, 2000-11, EX-(HLA)/(WPA), RTND.
0 737-3YO (CFM56-3) (1701-24463, /89), (COO) MAINT, TO (BLS) 2000-11.
0 737-382 (CFM56-3) (2241-25162, /92, OY-SEF), WET-LST (BPA) TIL 2000-11, EX-(TAP), RTND (TIA), LST (AEY) 2001-03.
0 737-4Q8 (CFM56-3) (2210-25168, TF-ELY), (ISF) WET-LSD 2004-05. RTND 2005-01.
0 737-5L9 (CFM56-3B1) (1816-24778, /90 OY-MAA; 2038-25066, /91 OY-MAE), EX-(MRS), ORIX (OXA) LSD 2005-09. RTND. 126Y.
0 737-5L9 (CFM56-3C1) (2788-28084, /96 OY-APB; 2856-28721, /97 OY-APH; 2868-28722, /97 OY-API), (MRS) LSD. 28084; TO (AMV) 2010-06. RTND. 126Y.
0 737-7K9 (CFM56-7B) (2216-34401, OY-MRP, 2007-03; 2270-34402, OY-MRR, 2007-05), (BAV) LSD. TO (ETH) AS (ET-ANG; & ET-ANH) AND WET-LST A SKY AIRLINES (AKY) 2009-12. 149Y.
4 737-7L9 (CFM56-7B22) (26-28006, /98 OY-MRC; 136-28007, /98 OY-MRD; 203-28008, /99 OY-MRE SEE ATTACHED PHOTO - - "STR-737-7L9-2008-04;" 221-28009, /99 OY-MRF; 396-28010, /99 OY-MRG; 682-28013, /00 OY-MRH; 766-28014, /01 OY-MRI; 785-28015, /01 OY-MRJ), (MRS) LSD. 28006; 28007; RTND. WITH WINGLETS. 28008; GROUNDED 2012-04. 148Y.
0 737-7L9 (CFM56-7B22) (1092-28012, /02 OY-MRK), (MRS) WET-LSD 4 MTHS. RTND. 148Y.
0 737-73S (CFM56-7B22) (98-29076, OY-MLY; 104-29077, OY-MLZ); 29076, AS (PR-GIF); & 29077 (PR-GIG), TO (GOT) 2006-02. 148Y.
0 737-73S (CFM56-7B24) (187-29078, /99 OY-MLW; 194-29079, /99 OY-MRU), EX-(MRS), (PEB) LSD. 29078; RTND. WITH WINGLETS. 148Y.
1 737-76N (CFM56-7B22) 1130-32737, /02 OY-MRS), (GEF) LSD 2010-01. WITH WINGLETS. 148Y.
1 +3 ORDERS 737-8BK (CFM56-7B26) (1488-33018, /04 OY-SEL; 502-33019, /04 OY-SEM), (TCI) LSD. 33018; RTND, LST TITAN AIRWAYS. WINGLETS. 189Y.
3 737-8Q8 (CFM56-7B26) (50-28213, /98 OY-SEA (BLUE), 78-28214, /98 OY-SEB (DARK BLUE), 226-28221, /99 OY-SEC (YELLOW); 769-28237, /01 OY-SED (BLUE)), 28213 LST (TNS) (OY-SEG). 28221; RTND, LST (JSC) 2009-06. (ILF) LSD. 189Y.
2 737-85H (CFM56-7B26) (178-29444, /99 OY-SEH (GREEN); 186-29445, /99 OY-SEI (RED)), ITOCHU LSD. 29444 WET-LST (BER) 2001-04. 29445 WET-LST (TUN) TIL 2001-10. 29444 WET-LST (ISA) THRU 2001-10. 29445 RF (TUN). 189Y.
2 737-86Q (CFM56-7B26) (1399-30289, /03 OY-SEJ; 1451-30292, /04 OY-SEK), (BOU) LSD. WINGLETS. 189Y.
0 747-200F (CF6-50E2), (TLS) WET-LSD 1999-08. RTND.
2 ORDERS 767-300, LSD.
0 MD-82 (JT8D-219) (1402-49555, TF-JXA, SEE PHOTO), (ICX) WET-LSD 2006-07. RTND. 156Y.
3 ATR 42-500 (PW127E) (0497, /96 OY-CIJ; 0501, /96 OY-CIK; 0514, /96 OY-CIL), 48Y.
3 ATR 72-202 (PW124B) (0496, /98 OY-RTF; 0508, /98 OY-RTC; 0509, /97 OY-RTD), 0496; LST (UKA) 2012-01. 66Y.
3 ATR 72-500 (PW127F) (0468, /99 OY-CIM; 0568, /99 OY-CIN; 0595, /99 OY-CIO), DANSK AVIATION GRP LSD 2006-10. 66Y.
7 CRJ-100LR (CL-600-2B19) (CF-343A1) (7007, /93 OY-RJD; 7093, /95 OY-RJI), LSD 50Y.
2 CRJ-200LR (CL-600-2B19) (7413, /00 OY-RJA; 7784, /03 OY-RJJ), LSD 50Y.
1 CRJ-200 (7661, EC-ICO), re-registered (OY-RJL) TO YUKAI INTNL CO 2014-02. 50Y.
1 CRJ-200 (8064, EC-JOY), AIR NOSTRUM LSD, OPS FOR (SAS) 2012-09. 50Y.
VILHELM HAHN-PETERSEN, CHAIRMAN.
KENT HANSEN, PRESIDENT (2015-03).
JORGEN NIELSEN, PRESIDENT, RESIGNS (2015-02).
JACOB KROGSGAARD, CHIEF EXECUTIVE OFFICER (CEO).
SOEREN BUSK, CHIEF FINANCIAL OFFICER (CFO).
STEEN NEUCHS VEDEL, CHIEF OPERATIONS OFFICER (COO).
MICHAEL HANSEN, VP BUSINESS DEVELOPMENT & INFORMATION TECHNOLOGY (IT) MANAGER.
BRIAN JORGENSEN, VP BUSINESS CONTROL
KJETIL GRONEVIK, FINANCE DIRECTOR.
LARS RAFN, COMMERCIAL DIRECTOR.
MOGENS PEDERSEN, DIRECTOR HUMAN RESOURCES (HR).
FREDRIK KINNUNEN, DIRECTOR DIRECT SALES.
CLAUS GAMMELGAARD, MANAGER FLIGHT OPERATIONS.
LARS HINDUM, MANAGER PLANNING & PRODUCTION.
NIELS BRIX, COMMUNICATIONS MANAGER.