Reuters: Bankruptcy News: Flybe interested in buying Cimber -report

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Flybe interested in buying Cimber -report May 14th 2012, 06:02 HELSINKI | Mon May 14, 2012 2:02am EDT HELSINKI May 14 (Reuters) - British airline Flybe Group is interested in buying Danish Cimber Sterling that declared bankruptcy earlier this month, Finnish public broadcaster YLE said on Monday. "We see this as an opportunity to extend our plans in Denmark. It is part of our plan to become the market leader of the region," Fred Kochak, Flybe's marketing chief for Europe, told YLE. Flybe is eyeing Cimber's ATR aircraft that would be suitable for short flights from Denmark to other Nordic cities or Germany, YLE said. Cimber, which carried 2 million passengers last year with a fleet of about 30 aircraft, has lost money persistently since it was listed at the end of 2009, and its share price has slid from its 10 crowns IPO price to less than one crown. Flybe and Finnish carrier Finnair have a joint venture Flybe Nordic that operates in the Nordic and Baltic countries. YLE said three other regional airlines, Skyways, DAT and Jet Time, are also interested in Cimber. In August last year, Mansvell Enterprises Ltd, an investment vehicle of Ukrainian businessman Igor Kolomoisky, offered to buy out minority shareholders in the airline for 1.50 crowns per share. Link this Share this Digg this Email Reprints

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