New owners expected for FlyMe

The administrator for bankrupt Swedish airline FlyMe Sweden has said he could be close to finding a new owner for the company.

• Police raid law firm linked to Fly Me (23 Mar 07)
• Accounting firm deserts Fly Me (19 Mar 07)
• Bankruptcy looming for Fly Me Europe (9 Mar 07)

“There is a preliminary agreement for a takeover of the business, and the conditions laid down in the agreement should be met within the coming week,” said Rickard Ström, the lawyer handling Fly Me Sweden’s affairs on behalf of its creditors.

Ström would not reveal the details of the agreement.

“The conditions have been laid down by the person or organization that will take over the business and by the creditors.”

Göteborgs-Posten reports that a new company has been registered to take over FlyMe’s operations. The new company’s owners have at least 300 million kronor ($43 million) in capital, the paper writes.

“All that remains is the licence from the Swedish Civil Aviation Authority. This could take a couple of days,” said FlyMe Sweden’s operations manager Bosse Andreasson to Göteborgs-Posten.

“The new owners have more capital than the Civil Aviation Authority’s minimum requirement of 300 million kronor,” he said.

The new FlyMe is likely to have access to four of the six planes previously used. This will mean a more limited schedule than before.

The administrator will make staff of FlyMe Sweden redundant on Wednesday afternoon, although they will be offered jobs in the new company.