Announcement no. 29/2011
14 September 2011
In the course of Q1 2011/12, Cimber Sterling got a new major shareholder – Mansvell Enterprises Ltd. – which has made an injection of DKK 165.75 million of capital through a directed share issue. The agreement with Mansvell gives Cimber Sterling a principal shareholder with a strong capital base and with ambitions as well as the necessary funds to establish a strong Nordic regional airline. Mansvell has thorough knowledge of the airline industry and already owns Swedish-based airlines Skyways and City Airline.
Revenue in Q1 2011/12 increased by 21% to DKK 635 million, and EBIT improved from a loss of DKK 10 million to a loss of DKK 9 million in spite of an increase in fuel costs by DKK 39 million. The guidance for the full year 2011/12 is retained.
For further information please see enclosed or contact:
Jacob Krogsgaard, CEO
Phone: +45 60 29 26 26
E-mail: ir@cimber.dk
