Oslo, 1 March 2021 – The low-cost carrier Flyr has today been admitted to trading on Euronext Growth (ticker code: FLYR).
Flyr is the first new airline in Europe to be listed following the outbreak of the Covid-19 pandemic. “A listing on Euronext Growth is an exciting and important milestone for Flyr. It enables us to pursue the opportunities we see in a changing market and a recovering airline industry,” says Tonje Wikstrøm Frislid, CEO of Flyr.
Recently, the company raised NOK 600 million through issuing new shares. The placement attracted strong interest from Norwegian and international investors and was multiple times oversubscribed, reported Flyr.
The new low-cost carrier focuses on serving the Norwegian market with both domestic and international connections from its operational base at Oslo Gardermoen Airport.
“Flyr will be a robust, Norway-based low-cost carrier, with a financially sustainable, efficient and demand driven business model. We will have modern systems for operations designed by industry experts, a fully digital customer journey and a management with extensive airline experience,” continues Wikstrøm Frislid.
The shares in the new issue were sold at NOK 5.00 corresponding to a market capitalisation of NOK 750 million.
Øivind Amundsen, President and CEO of Oslo Børs, Tonje Wikstrøm Frislid, CEO of Flyr, met at the gate ahead of Flyr’s Euronext Growth arrival. (Photo: Neil Dowling)
About Flyr Flyr is a Norwegian based low-cost carrier with a demand driven and more sustainable business model. Flyr’s primary focus is on serving the Norwegian market with both domestic and international connections from its operational base at Oslo Gardermoen Airport (OSL). The company targets a modern, digital and efficient setup to ensure high operational efficiency through simplicity, optimized resource utilization and smart use of technology. First take-off is planned during Q2 2021 and with a strategy of scaling up operations in line with the expected gradual up-tick in demand. Flyr is the first new airline in Europe to be listed following the outbreak of the Covid-19 pandemic and Flyr will be adapted and scaled to serve a post-pandemic aviation market in gradual recovery. www.flyr.no