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.