newstodate.aero
MAR 14, 2005 (newstodate): Icelandic capital has now also found its way into the Norwegian-owned, Copenhagen based low cost operator, Sterling.
The Icelandic investmens company Fons Eignarhaldsfelag has negotiated with Sterling to take over the carrier at a price of 400 million Danish Crowns, pending due diligence and final share purchase agreement.
Fons is controlled by the two partners Palmi Haraldsson and Johannes Kristinsson, formerly large shareholders in Icelandair, and currently owners of the low-fare airline Iceland Express.
-Sterling has long been focused on the need for a consolidation within the airline industry, and has entered into comprehensive code-sharing agreements with other low fare operators, such as Norwegian and Fly Nordic. I believe that the change of ownership will result in a further vitalising and consolidation as Island Express is be merged into Sterling, says Harald Andresen, Sterling CEO.
The Icelandic investmens company Fons Eignarhaldsfelag has negotiated with Sterling to take over the carrier at a price of 400 million Danish Crowns, pending due diligence and final share purchase agreement.
Fons is controlled by the two partners Palmi Haraldsson and Johannes Kristinsson, formerly large shareholders in Icelandair, and currently owners of the low-fare airline Iceland Express.
-Sterling has long been focused on the need for a consolidation within the airline industry, and has entered into comprehensive code-sharing agreements with other low fare operators, such as Norwegian and Fly Nordic. I believe that the change of ownership will result in a further vitalising and consolidation as Island Express is be merged into Sterling, says Harald Andresen, Sterling CEO.