Flyr changes CEO
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Flyr changes CEO
Pandemic started norwegian airline Flyr had a quick change of CEO yesterday as original CEO Tonje Wikstrøm Frislid surprisingly quit and was replaced by another ex-Norwegian Brede Huser previously CFO of Flyr.
Flyr has had a torrid time financially this autumn after commiting to more planes and brand new ones to that, last January. Planes they haven't been able to fill or wetlease out this winter, and no summer profit to boot. They are down to only flying 6 of the 12 planes in the fleet, laying off a number of pilots and other staff.. A failed recapitalisation replaced by a speculative investor lead one, with billions of shares at share price 0.01 nkr, didn't help. Share price has fallen to a fraction of even that leaving litle hope of success for future planned capital repairs. Management mostly consisting of ex-Norwegian leaders laid of during the pandemic and reconstruction of that airline. Speculation is they won't be able to handle a nkr 100 million CO2 tax due to the government in January.
Flyr has had a torrid time financially this autumn after commiting to more planes and brand new ones to that, last January. Planes they haven't been able to fill or wetlease out this winter, and no summer profit to boot. They are down to only flying 6 of the 12 planes in the fleet, laying off a number of pilots and other staff.. A failed recapitalisation replaced by a speculative investor lead one, with billions of shares at share price 0.01 nkr, didn't help. Share price has fallen to a fraction of even that leaving litle hope of success for future planned capital repairs. Management mostly consisting of ex-Norwegian leaders laid of during the pandemic and reconstruction of that airline. Speculation is they won't be able to handle a nkr 100 million CO2 tax due to the government in January.
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