Turbulence struck Flyr examines alternative transaction structure

After yesterday’s subscription period for the planned private placement, Low-Cost Flyr is looking for an alternative transaction structure. The Board of Directors decides on a combination of existing and new professional investors.

The airline is considering a capital increase to raise gross proceeds of up to NOK 700 million by issuing up to 70,000,000,000 new shares at a subscription price of NOK 0.01 per share.

The company will raise the money in four transactions in the best interests of the airline. The first transaction (bringing gross proceeds to NOK 250 million) will be used to re-establish Flyr by Q1 2023.

The other transactions will allow Flyr to launch based on the business plan and market assumptions for the upcoming spring and summer (2023).

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