Is this a new shareholder or just loan capital?
Regional airline gets Birmingham investment Dec 18 2007
A multi-million pound investment backed by the Birmingham office of Kaupthing Singer & Friedlander has given a major boost to regional airline Eastern Airways.
Humberside-based Eastern operates scheduled services on 22 routes in the UK and four into Europe, including routes from Birmingham to Inverness, the Isle of Man and Newcastle and from East Midlands Airport to Aberdeen, Stavanger and Wick.
Steve Lewis, Kaupthing director of corporate and structured finance in Birmingham, said: "Eastern Airways focuses on the business traveller with a market leading record for frequency, punctuality, reliability and quality of service.
"The development capital funding is designed to enable the entrepreneurial management team, led by chief executive officer Richard Lake, to expand further the business in the short haul regional air travel market."
Established in 1997, Eastern Airways has grown rapidly and now boasts a turnover of around £70 million.
