newstodate.aero
Apr 28, 2014 (newstodate): Announced in December 2014, the planned merger of Greenland Express with the Icelandic carrier Air Arctic did never materialize.
Plans were for Greenland Express to take 60 percent of the stakes in Air Arctic that would then hold 40 percent of the stakes in Air Arctic, paving the way for a complete merger.
If carried through, Air Arctic would be the provider of feeder flights between domestic points in Greenland and Greenland Express' Transatlantic flights at Narsarsuaq and Kangerlussuaq, respectively.
-It turned out that Air Arctic was deeply in debts rendering the planned cooperation unfeasible, says a source closely connected to Greenland Express.
According to the same source, cooperation is, however, continued with Einar Adelsteinsson, who owns and manages Air Arctic together with Bergur Axelsson.
Plans were for Greenland Express to take 60 percent of the stakes in Air Arctic that would then hold 40 percent of the stakes in Air Arctic, paving the way for a complete merger.
If carried through, Air Arctic would be the provider of feeder flights between domestic points in Greenland and Greenland Express' Transatlantic flights at Narsarsuaq and Kangerlussuaq, respectively.
-It turned out that Air Arctic was deeply in debts rendering the planned cooperation unfeasible, says a source closely connected to Greenland Express.
According to the same source, cooperation is, however, continued with Einar Adelsteinsson, who owns and manages Air Arctic together with Bergur Axelsson.