FlyMe deal
FlyMe Europe's shareholder assembly has yesterday approved a joint venture with GSS. Important to know is that FlyMe Europe is an investment company, and not the airline which is FlyMe Sweden AB.
That means that the joint venture will not directly be FlyMe Swedens business.
The project is to fly from April 2008 with two 747-400's low cost long range, in winter from Sweden to Asia, and in Summer, from apparently the UK to the US. They want to use the brand name FlyMe.
But right now there is a problem with 30 Mio SEK (3 Mio EUR) in shares which are not covered. Why the main investor, Christer Ager Hansson signed for them, and is not coming up with the money is unknown. The money should have been paid in yesterday according to the rules of that emission.
FlyMe airline should reach profitability in the second quarter, but with all this turbulence around the investors, it will be difficult to keep the booking figures up as planned...