Sterling a dat faliment

Sterling Airlines A/S

29. oktober 2008


Dear customers, employees and other stakeholders,

During the last few weeks, the management, board of directors, and the shareholder of Sterling Airlines A/S have been fighting a battle to keep the company alive. Sadly, this has not had a positive outcome, and we have therefore decided to file for bankruptcy which will be done later today.

Background

During the last three years, Sterling Airlines A/S has been through a lot of changes and since acquired by new shareholders in spring 2005 the company has taken on a merger with Maersk Air A/S. In 2005, the total loss of both airlines exceeded 800 MDKK and both owners wanted out one way or the other. Therefore, all jobs in both airlines were at stake and so was also the competitive landscape in Scandinavian aviation since only the presence of a low cost carrier would ensure healthy competition and pricing on the market.

The merger process started in the autumn of 2005 and lasted until mid-year 2006, and by that time we employed over 1,200 employees with far more job security than before, and we had expanded our route network to enable more customers in Scandinavia to travel for less money.

Our operation was progressing positively and our finances were improving considering the massive losses that had been encountered in the preceding years. In 2007, we were doing very well and saw that more and more customers were choosing Sterling, and we ended the year with a positive EBITDA (operational profit) for the first time in many years.

Oil and financial crisis

With the global financial recession that started in the autumn of 2007, Sterling by winter 2007 – 2008 was seeing signs of stagnation in the market. Significant fuel cost increases, and at the same time a planned heavy expansion of our activities, made us more exposed than we would have been otherwise.

By spring 2008, the airline industry was hit by decreasing demand and rapidly increasing fuel prices. That led to Sterling accumulating large losses. During summer and autumn the management of Sterling implemented a restructuring plan of the company resulting in a reduction in fleet and manpower, and a pull-out of a lot of loss-making activities, without compromising our services. The full effect of these actions were planned to have impact start of 2009.

To get the company restructured, the shareholder of Sterling gave financial support from the end of July 2008 to the end of September 2008 transferring 444.5 million DKK to the company. The plan was to continue financial support into 2009. On the 29th September 2008, the Icelandic financial environment started to collapse. Over a 3 to 4 weeks period, the whole financial system melted down, and that resulted in our shareholder being unable to continue his support to the company. Negotiations have been conducted with several potential investors, but it was impossible to make ends meet. The inevitable result is that Sterling Airlines A/S has no option but to file for bankruptcy.

Sterling Airlines’ trademark has always been excellent staff and service. Among the staff the Sterling spirit will continue to exist. We have made our mistakes over the years. But hopefully we have done more right than wrong, and at least we have made the market more competitive to the benefit of our customers.

Information to Sterling Passengers

Customers who have directly purchased their tickets on Sterling’s website will unfortunately not be refunded neither will their return flights. You therefore have to book your return flights with another airline company.

If you have paid for a flight by credit card, we advise you to contact your bank or credit card company to ask for a possible refund.

Customers who have booked their flights through a travel agency or tour operator should initially contact them.

Passengers who have booked their tickets through Sterling, but is flying with Norwegian, should contact Norwegian directly on one of the below phone numbers:

+47 21490015 (from outside Norway)

815 21 815 (from Norway)

Passengers currently staying abroad in hotels, or hiring a car through Sterling business partners, are still able to stay in their hotel or keep the hired car for the relevant period of time, as such services are paid for through our business partners and not Sterling. However as for your return flight, you will need to find alternatives for your final destination.

Please note that if you have booked your travel/hotel/car through a travel agency or tour operator, please contact them upon your return for possible refund of expenses for your return flight.

We understand that most travel insurance does not protect holders from airline insolvency but should you have taken insurance please contact your insurance company for clarification.

We will later put on a FAQ and hope that this will help you in this very unfortunate situation.


Sterling Airlines A/S

29th October 2008

sursa: www.sterling.dk

Another one bites the dust . Din pacate cred ca vor mai urma si altele!

o companie in minus pe cerul patat de contrail deasupra clujului..

pacat

Nasol......, pretul la baril tot scade joi sau vineri saptamana trecuta era 67 USD /Baril oare si in alte tari, la fel ca la noi, s-a crescut pretul si au uitat sa il mai aduca la locul lui.....

Mda, inca una. Companiile mici low-cost din Europa se cam duc una cate una. Cine urmeaza? Eu as cam paria pe Sky Europe....

Pacat,ca mie chiar imi placeau avioanele lor....

Si mie imi pare rau...cel putin din motivul ca nu le mai vad pe cer, erau prezente placute la contrail, si erau de recunoscut fara nici un instrument optic...

RwO a scris:

Mda, inca una. Companiile mici low-cost din Europa se cam duc una cate una. Cine urmeaza? Eu as cam paria pe Sky Europe....

De ce vrei sa ma indispui ?

On the 29th September 2008, the Icelandic financial environment started to collapse. Over a 3 to 4 weeks period, the whole financial system melted down, and that resulted in our shareholder being unable to continue his support to the company. Negotiations have been conducted with several potential investors, but it was impossible to make ends meet. The inevitable result is that Sterling Airlines A/S has no option but to file for bankruptcy.

Cam asta este motivul oficial: nada bani de injectat. Posibil si nr. scazut de pasageri.
Cine mai stie....pacat. Mor de ciuda sa ajung iar la mana comp. de linie, cu preturile lor nesimtite.

Sterling a avut pierderi de 135 milioane de euro in patru ani. De fiecare data investitorii din Islanda au acoperit pierderile prin injectie de capital.
Cand a mers bine economia investitorii au luat bani din afacerile profitabile si i-au bagat in afacerile mai proaste de exemplu in aviatie.
Numai ca acum investitorii au pierdut mult la busa si au inchis unele dintre afacerile care pana acum le aduceau venituri substantiale si nu mai au bani ca sa tina companiile aeriene in viata.

Intradevar si SkyEurope ar putea sa dea faliment daca investitorii nu mai doresc sau nu mai au bani ca sa tina SkyEurope in viata.
E trist, dar daca o companie aeriana nu e in stare sa functioneze fara a fi tinuta artificial in viata mi se pare corect sa dea faliment.

SkyEurope helping Sterling Guests
If you have booked a ticket with Sterling, please contact our Reservation Centre until November 15th to take advantage of our cheap flights with a fixed price of €49 one way all inclusive.


Don't miss your trip and book with SkyEurope Airlines now. If you were flying to Budapest, you can also book with SkyEurope Airlines your cheap flights to Vienna.


Note: To book your flight, please contact our Reservation Centre at +421 2 3301 7301. Please no e-mail booking requests! All Sterling guests who wish to book this fare must bring their Sterling e-mail confirmation to the Airport check-in desk.

You can also read SkyEurope's press release regarding this initiative.

* Subject to availability, reservation via call center only, valid on Copenhagen - Prague - Copenhagen (CPH-PRG-CPH) and Copenhagen - Vienna - Copenhagen (CPH-VIE-CPH) routes only, booking until November 15th 2008. Blackout period: 20 Dec - 3 Jan, 2008. Subject to payment of credit/debit card fees and baggage fees.


SURSA

"Bunul samaritean" - unul dintre ei...sunt multi care vor sa profite.

metalactual a scris:

SkyEurope helping Sterling Guests
If you have booked a ticket with Sterling, please contact our Reservation Centre until November 15th to take advantage of our cheap flights with a fixed price of €49 one way all inclusive.


Don't miss your trip and book with SkyEurope Airlines now. If you were flying to Budapest, you can also book with SkyEurope Airlines your cheap flights to Vienna.


Note: To book your flight, please contact our Reservation Centre at +421 2 3301 7301. Please no e-mail booking requests! All Sterling guests who wish to book this fare must bring their Sterling e-mail confirmation to the Airport check-in desk.

You can also read SkyEurope's press release regarding this initiative.

* Subject to availability, reservation via call center only, valid on Copenhagen - Prague - Copenhagen (CPH-PRG-CPH) and Copenhagen - Vienna - Copenhagen (CPH-VIE-CPH) routes only, booking until November 15th 2008. Blackout period: 20 Dec - 3 Jan, 2008. Subject to payment of credit/debit card fees and baggage fees.


SURSA

"Bunul samaritean" - unul dintre ei...sunt multi care vor sa profite.

Hei, ciao Metalactual,

Ai dreptate, pana si Easyjet care are foarte putine curse de la Copenhaga, s-a grabit sa sara in ajutorul pasagerilor Sterling. Este normal sa fie asa pana la urma, chiar daca lacrimile respective sunt de crocodil.

In ceea ce priveste SkyEurope, este interesanta de analizat alianta facuta cu MyAir pe piata italieneasca si inevitabil si pe cea romaneasca (avand in vedere ca dupa Italia MyAir are cea mai mare prezenta in Romania). Atat SkyEurope cat si MyAir sunt doua companii mici cu probleme. E posibil sa obtina anumite sinergii, insa una din problemele pe care o vad este legata de flota, SkyEurope fiind total axata pe Boeing, iar MyAir avand Airbus si Bombardier. Deci in afara de handling, fuel, catering si alte chestiuni de acest fel e posibil sa nu fie alte avantaje. Ramane de vazut ce se va intampla pana la urma.

Totusi, asa cum acum companiile dispar, pe viitor vor incepe sa reapara. E adevarat ca cei care trec prin aceasta perioada in picioare, chiar daca schiopatand, vor deveni mult mai puternici, insa cu siguranta vor reaparea nume noi cand apele/cerurile se vor mai calma.

Cimberair cumpara Sterling

http://www.cimber.dk/sw24837.asp

Dar Sterling o sa fie total diferita de ce a fost.
Dintr-o companie LowCost cu 30 de aeronave, Sterling va deveni o companie cu tarife normale si va opera cu 6-8 aeronave.

CDA a scris:

Cimberair cumpara Sterling
Dar Sterling o sa fie total diferita de ce a fost.
Dintr-o companie LowCost cu 30 de aeronave, Sterling va deveni o companie cu tarife normale si va opera cu 6-8 aeronave.

Din 1962 pana in 2005, Sterling a fost o companie cu tarife normale. Noii proprietari au transformat-o in lowcost si dupa trei ani am vazut efectul... Sa speram ca noii proprietari ii vor continua vechea traditie.
PS_In octombrie am dirijat ultimul zbor Sterling prin Romania