Ocean Airlines
INVESTMENT TRUST TO AQUIRE MAJOR STAKE IN OCEAN AIRLINES
Ocean Airlines advise that a major Investment by a leading European Private Equity Fund is scheduled completion by February 15th . The investment includes Euro 35 million of new capital and acceleration of the investment programme in new aircraft to expand the Ocean fleet to not less than 7 operational freighters by Spring 2009.
“This is excellent news” - Said Ocean C.E.O Rossano De Luca. “It will enable the Airline to re-commence operations to the great benefit of all concerned. The Ocean Board and Management feel very confident that the Airline can now move ahead to fulfill its plans originally envisaged in the planned IPO last July. In the current turmoil of the financial markets private equity participation will enable the company to plan ahead long term