Cimber Sterling thrown USD32m lifeline by Skyways and City Airlines owner
Struggling Danish LCC Cimber Sterling has received a DKK165 million (USD31.9 million) lifeline from Mansvell Enterprises Ltd. If approved, Mansvill will become the majority shareholder in Cimber with a 66.7% stake. The deal would enable Manswell to "conclude a significant step towards its ambition of creating a leading regional Nordic airline". [961 words]
Unlock the following content in this report:
- Cimber Sterling to use USD31m to service overdue creditors
- Cimber Sterling cuts financial outlook in Jun-2011; cash resources squeezed
Graphs and data:
- Cimber Sterling international network: Jul-2011
- Cimber Sterling domestic network: Jul-2011
- Cimber Sterling fleet profile: Jul-2011
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