Astraeus sells 51% stake to FE

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Icelandic’s investment firm, Fons Eignarhaldsfelag (FE), acquired a 51% stake in Astraeus for £5m last month. FE already owns Iceland Express. The move follows Sweden’s FlyMe collapsed acquisition of the UK operator in October.
Astraeus operates four 757s and two 737-700s and is based at London Gatwick and Manchester International. Its board will be restructured, with a supervisory board comprising two representatives from FE, one from Astraeus management and one from minority shareholder Aberdeen Asset Management.