In comes a prominent businessman from northern Jutland to help get the new airline’s first plane off the ground.
The Aalborg-based airline-to-be Great Dane has switched owners before it has even got its first aircraft off the ground. Replacing one investor who has backed out is a new one, Eigild Bødker Christensen, Check-in.dk reports.
Vietnamese-born co-founder Huy Duc Nguyen has opted to withdraw from the board of directors and management and he is now completely out of the aviation venture.
He was bought out by his partner, chief executive Thomas Hugo Møller, who took over half of the shares Huy Duc Nguyen possessed.
But the transaction was only temporary, as the northern Jutland businessman Eigild Bødker Christensen has now joined the inner circle of owners of Great Dane Airlines, which will debut with its first flight on June 14.
This was done via the investment company SEBC II ApS, which is part of the SEBC Group.
Owned by Christensen, SEBC Group currently has equity of almost DKK 1 billion (€130 million), wealth that was created after the establishment of Color Print in 1987, which has since been sold to the private equity fund Polaris.
“It is an exciting project that helps to develop North Jutland for the benefit of both business and tourism, which I am very pleased to contribute to,” says Christensen.
Great Dane Airlines was originally founded with capital of DKK 400,000 and the ownership was equally divided between Thomas Hugo Møller and Huy Duc Nguyen. Now a DKK 1.6 million capital increase is planned, plus a guarantee of DKK 10 million for operations.
Nykredit has provided credit equivalent to DKK 5 million, and it is intended that Christensen will guarantee another five million, which Huy Duc Nguyen had originally stood for.