New largest shareholder for FlyMe

Norwegian financier Christen Ager-Hansen, through his company Cognititon, is the new largest shareholder in Swedish low-cost airline FlyMe.

The news was revealed by Icelandic former shareholder Palmi Haraldsson, who confirmed that his investment company Fons had sold all its shares in the airline to Cognition.

Haraldsson said disagreement between the major shareholders lay behind the move.

FlyMe has been losing money since it was founded in 2003, and the owners have been forced to pump half a billion kronor into the company. The airline made a loss of 116 million kronor in the first half of 2006.


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.