The news just hit: Sterling is being sold to FL Group, the investment group behind Icelandair. The price: 200 mill Euros.
The fact is that by this deal Icelandair strengthens it's position in the European leisure travel market and the low-cost sector. FL Group owns around 11% of EasyJet. It is obvious that they are trying to make the largest lCC in Europe and probably want to merge it with EasyJet someday.
The sellers are expected to have profited in excess of 130 million Euros. Not bad for a few months work.
All the best to Icelandair
