FlyMe buys British airline

Swedish airline FlyMe has taken control of British charter airline Astraeus, in a deal that will see the number of planes in FlyMe's fleet grow from five to fifteen aircraft.

The deal, in which Gothenburg-based FlyMe buys 51 percent of the shares in the British company, worth £6 million (approximately 82.7 million kronor).

Astraeus, which has its main base at London’s Gatwick Airport and carries 800,000 passengers a year, has an annual turnover of around 1.2 billion kronor, the Swedish company said. The deal includes Astraeus’ ten jets, all Boeing 737 and 757.

As well as operating charter flights Astraeus, which has 391 employees, has scheduled lines from Gatwick to destinations in west Africa and the former Soviet Union.

“There are major synergies between FlyMe and Astraeus,” said Finn Thaulow, CEO of FlyMe Europe.

“This acquisition enables a more optimal use of the combined fleet, thanks to matching seasonal variations,” he added.

FlyMe, which started out operating domestic flights in Sweden, has recently started a number of new routes to European destinations.


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.