Private shareholder saves Cimber
Sterling
Written by Fju at 03/09 2010, 13:17 - 0 comments
The safe was almost empty after a terrible year with volcano ashes and economic crises. Several banks denied loans to the airline but just a few hours before closing, the shareholder Karsten Ree’s company offered a temporarily loan of 50 million DKK.
A promised loan from the Danish state in connection with the volcano ashes has been delayed creating cash flow problems for the airline.
Karsten Ree owns 11 per cent of the shares in Cimber Sterling.
