2 replies to this topic

[KJS607]

Good Afternoon from Farnborough.

 

Britain's leading regional carrier has today taken over management of fellow GMI member,

Northern Welsh Airways in an attempt to restructure the loss-making carrier and return it to

profit for the first time since its founding.

 

The first action Flytoo has taken is to inject £10 million into NWA to allow the carrier

to replace its single Britten-Norman Islander with a larger & faster ex-Waterford International

Let 410 aircraft. This will enable the carrier to expand its services for the first time in years.

 

Flytoo has expressed its interest in ordering further Let 410 aircraft if the airline returns to

profit within 6 months.

 

Flytoo has also expressed its interest in connecting Swansea & Anglesey to Jersey using NWA.

 

Operations will continue under the Flytoo brand and flights will now be sold through Flytoo as well

as NWA in an attempt to boost sales using Flytoo's regional reputation. Flights will continue to

operate under NWA's EV flight code as well as Flytoo's UK flight code.

 

Further information will be released as it becomes available.

 

Thanks,

Kai

 

[Hake.]

According to Northern Welsh Airways' latest report, they now have a estimated slight profits, a large turnaround after the airlines' dismal failure and entry into receivership in May 1996. This saw the airlines' 2 BAe ATPs and BAC 1-11s seized and in June 1996 it was bought by Hake Investment Corp, owner of several British, Irish and Norwegian airlines, for a price of £900,000 and the single Britten Norman Islander it flew. The airline continued to make losses of £300,000 per year until this franchise move, which is expected to be a major success.

[KJS607]

Good Morning from Fanborough,

 

Flytoo can today announce that Northern Welsh Airways has returned to profit within 3 months of 

Flytoo management intervening.

 

Flytoo is considering transferring a second one of its Let 410 aircraft to Northern Welsh Airways.

 

Thanks,

Kai