FlyMe asks shareholders for cash

Airline FlyMe has said it plans to fund further expansion through a share issue to investors, which it says will raise 1.3 billion kronor.

The preferential issue will allow each shareholder to buy 10 new shares for the current price of one share, 1.30 kronor.

The company wants the money to fund “widespread acquisitions for continued growth.”

The board called an extraordinary general meeting of the company for August 31st, where it will ask shareholders for approval of the plans.

FlyMe is based in Gothenburg, flying to around 15 destinations around Europe.


Police raid law firm linked to Fly Me

Lawyer Staffan Edh has resigned from law firm Hamilton in Gothenburg following speculation about his role on the Fly Me affair.

Police raided the offices of the law firm on Friday. One of the reasons for the raid was a client account not included in Fly Me’s accounts, which was controlled by Edh and Chairman of the Board, Björn Olegård.

No other board members had access to the account at the law firm, SVT reports.

Staffan Edh is a board member of Fly Me Sweden, which recently went bankrupt, and parent company Fly Me Europe. On Wednesday Hamilton announced that it was to look into Edh’s role in the bankruptcy.

“I think it is the right decision on his part,” said Hamilton’s CEO Mikael Wahledow.