Edmonton,
As much as I respect Cimber and the fact that the FPU union might be claiming that the Danish media is on a witch hunt and all their accusations are none existing.
We have to look at Cimber's performance the last several years. Cimber had around 600 mil D.Kr in 2003 and was struggling big time. Years have passed and the company has had massive losses year after year. Now leaving them with around 120 mil D.kr.
Having bought the sorry remains of Sterling and now operating bigger planes 120 mil is not going to last very long and further capital is needed for survival.
Promoting themselves with big expansion plans in a declining domestic market where pax numbers are significantly reduced each year. Launching old Sterling routes of which many aren't profitable due to an increasing competition from lowcost carriers such as Norwegian and Transavia.
Promoting themselves in CPH,BLL and AAL, where they are getting fierce competition from SAS, Norwegian and Transavia in CPH. A soon to be finished low cost terminal in CPH where companies like Ryanair and easyJet are most likely to show up and steal from the cake.
In BLL Ryanair is getting bigger and bigger, an FR base there is inevitable in the near future.
Being a regular passenger on a UK to BLL route I still have not seen more than 40 pax on a 737
In AAL it seems Norwegian is expanding too and it has been made public by Norwegian that their target is QI.
Knowing several people from the old Sterling part and having been chatting to them- they all say that QI is doing all the same mistakes as Sterling did.
With unpaid bills around 100 mil D.kr and a cash reserve of 120 mil it's not rocket science to see why no private investors have come forward.
For those reasons it's a must for QI to enter the Danish stock market, but who really wants to invest in a company with those odds against QI?
I truly wish all the best for QI but I for one, certainly will not be investing in them and unfortunately I cannot advise anyone to do so
