Thomas Cook Airlines Scandinavia has been rescued. Petter Stordalen’s Strawberry Group and private equity firms Altor and TDR Capital have agreed to buy the assets of the bankrupt carrier.
With immediate effect, the airline’s name is changed to SunClass Airlines and it will retain the fleet registered to Thomas Cook Scandinavia, which consists of:
7 A321-200, 1 A330-200 and 3 A330-300.
The new partnership has guaranteed $US618m in development and investment funding for the airline.
The Ving Group which owned Thomas Cook Scandinavia was actually a profitable undertaking, so raising finance for it was easy. Stordalen told journalists “Ving did everything right, it was Thomas Cook UK that did everything wrong”.