Fly Me went bankrupt
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Fly Me went bankrupt
Swedish LCC Fly Me went bankrupt today. Its chief executive Finn Thaulow told they didn't have enough liquid assets to continue operations and seized them immediately, affecting hundreds of passengers.
The airline started operations in 2004 and had services from three Swedish cities to about a dozen European destinations, including London, Nice, Prague, Italy, Spain. Last year they decided to pull out from Finland.
The Goteborg based airline had 220 employees.
The carrier informed thousans of passengers about the bankruptcy through mobile phone text messages last night.
Next triumph of FR's rock-bottom pricing policy in Scandinavia?
The airline started operations in 2004 and had services from three Swedish cities to about a dozen European destinations, including London, Nice, Prague, Italy, Spain. Last year they decided to pull out from Finland.
The Goteborg based airline had 220 employees.
The carrier informed thousans of passengers about the bankruptcy through mobile phone text messages last night.
Next triumph of FR's rock-bottom pricing policy in Scandinavia?
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Bit more here:
http://nordicflights.co.uk/FlyME.aspx
Do you think anyone will try and buy them and take the bookings, website etc or is it too late for all that?
easyJet has no routes in Sweden !
http://nordicflights.co.uk/FlyME.aspx
Do you think anyone will try and buy them and take the bookings, website etc or is it too late for all that?
easyJet has no routes in Sweden !
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Arlanda has seen an unprecedented chaos today, according to some estimations there were over 2,500 FlyMe clients left stranded at different European airports.
Some people cried today, others were happy.
Finnair's Swedish subsidiary FlyNordic's CEO Maunu von Luder belongs to the latter group and hopes his firm will profit on this.
"Ruotsissa lentoyhtiöllä on aika paljon ylitarjontaa ja FlyMe:n poistuminen kentältä tasapainottaa tilannetta - There has been quite a lot of overcapacity in Sweden so FlyMe's withdrawing will change and improve the balance. The bankruptcy will remove this overcapacity". Von Luders speculates FlyNordic could fill some of the gaps left by FlyMe, but due to the limited capacity at the moment they would only possibly increase the flight frequency on the Stockholm to Göteborg route. "We already have quite a tight route plan" he said.
Some people cried today, others were happy.
Finnair's Swedish subsidiary FlyNordic's CEO Maunu von Luder belongs to the latter group and hopes his firm will profit on this.
"Ruotsissa lentoyhtiöllä on aika paljon ylitarjontaa ja FlyMe:n poistuminen kentältä tasapainottaa tilannetta - There has been quite a lot of overcapacity in Sweden so FlyMe's withdrawing will change and improve the balance. The bankruptcy will remove this overcapacity". Von Luders speculates FlyNordic could fill some of the gaps left by FlyMe, but due to the limited capacity at the moment they would only possibly increase the flight frequency on the Stockholm to Göteborg route. "We already have quite a tight route plan" he said.
Astraeus
Hamrah,
I can't help wondering what you will do 'immediately' with the three (?) 737s returned from Flyme. Don't you need advanced warning in order to sign contracts, attract passengers, get slots, etc?
I can't help wondering what you will do 'immediately' with the three (?) 737s returned from Flyme. Don't you need advanced warning in order to sign contracts, attract passengers, get slots, etc?
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733's
Give Baby or JET2 a ring 
- yes I did notice GBALU53 suggested something similar on the BMI thread.
Seriously though, Baby need 733's and if they could get them in service
by May there are some rich pickings to had due the BACON/BE shambles.
OP
- yes I did notice GBALU53 suggested something similar on the BMI thread.Seriously though, Baby need 733's and if they could get them in service
by May there are some rich pickings to had due the BACON/BE shambles.
OP
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2 Aircraft from Astraeus owned by AWAS
1 from Lituanian Air owned by ILFC
They had 3 ex Air France aircraft which are owned by ILFC
And one ex ILFC owned aircraft now owned by AWAS
The 2 Astraeus aircraft and the Lithuanian one will be returned and the 3 Air France ones and the AWAS one will be stored until further notice...
1 from Lituanian Air owned by ILFC
They had 3 ex Air France aircraft which are owned by ILFC
And one ex ILFC owned aircraft now owned by AWAS
The 2 Astraeus aircraft and the Lithuanian one will be returned and the 3 Air France ones and the AWAS one will be stored until further notice...
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How relevant was Flyme's choice of airports in their downfall?
Gothenburg is one of the few places where Ryanair actually take people closer to the city centre, so how much of a service advantage would they have had?
Gothenburg is one of the few places where Ryanair actually take people closer to the city centre, so how much of a service advantage would they have had?
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You know who's been the cleverest here? SJ, Swedish Railways. They too are offering the free tickets for FlyMe customers, on high-speed trains between Stockholm and Malmö/Göteborg. And to be sincere: that's a good point here! I love flying between the European countries, but on shorter distances? French TGV, German ICE or Swedish X2000 trains - to my mind just that is a way to go (you may disagree but don't lynch me please). 
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a little more background
FlyMe started 11 international routes from Göteborg a year ago. Now expansion in Stockholm and Malmö started. The Göteborg-Stockholm shuttle was in FlyMe's hands, FlyNordic had one flight a day left or so.
Of course you can not expect to be profitable the first year you start such an expansion, but at looked credible that FlyMe would reach profitability by the second quarter.
BUT: FlyMe airline (official name FlyMe Sweden AB) was owned by FlyMe Europe. FlyMe Europe's biggest owner (like 87%) was Cognition. When FlyMe airline started the expansion the icelandic FL group was a big owner, those guys have aviation knowledge. But in fall last year the owner of Cognition, Christer Aager Hannson took over FlyMe by himself, after differences about the strategy the Icelandic group pulled out. Aager Hansson started to bring in John Porter (River Don -> GSS).
What caused the bankrupcy was that Aager Hansson was stripping FlyMe of cash, he even signed for 30 Mio SEK (3 Mio EUR), in conjunction with a new emission which he should have paid by February 28. He didn't pay, and so the bank in charge of the credit card accounts where the passengers book pulled the plug.
Aager Hansson is known as a financial acrobat, apparently other airlines have been interested in getting a share in FlyMe, but nobody wanted to do business with Cognition.
Now there is a chance that somebody will take over, the AOC could be reactivated until the end of this week. The network is basically good, the customers want these destinations.
Of course you can not expect to be profitable the first year you start such an expansion, but at looked credible that FlyMe would reach profitability by the second quarter.
BUT: FlyMe airline (official name FlyMe Sweden AB) was owned by FlyMe Europe. FlyMe Europe's biggest owner (like 87%) was Cognition. When FlyMe airline started the expansion the icelandic FL group was a big owner, those guys have aviation knowledge. But in fall last year the owner of Cognition, Christer Aager Hannson took over FlyMe by himself, after differences about the strategy the Icelandic group pulled out. Aager Hansson started to bring in John Porter (River Don -> GSS).
What caused the bankrupcy was that Aager Hansson was stripping FlyMe of cash, he even signed for 30 Mio SEK (3 Mio EUR), in conjunction with a new emission which he should have paid by February 28. He didn't pay, and so the bank in charge of the credit card accounts where the passengers book pulled the plug.
Aager Hansson is known as a financial acrobat, apparently other airlines have been interested in getting a share in FlyMe, but nobody wanted to do business with Cognition.
Now there is a chance that somebody will take over, the AOC could be reactivated until the end of this week. The network is basically good, the customers want these destinations.
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Hamrah, are all the AEU 737-700s fully tasked for the summer and into the autumn and winter? How about a AEU BHX-BOS, stopping two or three times weekly at Cork? Or is BHX-BOS just a wee bit too far for the 737-700?
Greetings from the real capital!
Or is BHX-BOS just a wee bit too far for the 737-700?Greetings from the real capital!
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Leaves Astraeus with a few extra aircraft than they were planning then
