Norway's Flyr airline rises 20% after IPO

Sparebank 1 Sorost-Norge

01/03/2021 08:16

OSLO, March 1 (Reuters) - The shares of Norway's Flyr
 FLYR-ME.OL  airline rose 20% in its debut trade on Oslo's
Euronext Growth stock market on Monday as the start-up carrier
prepares to take up competition with established players
Norwegian Air  NORR.OL  and  SAS.ST .
    Flyr, which means "flying" in Norwegian, aims to launch its
maiden flight by mid-2021, serving domestic routes in Norway and
also offering trips to major European destinations, it said.
    Founded by airline industry veterans, Flyr initially aims to
buy or lease a fleet of eight aircraft with a gradual increase
to 28 jets during the next 3-4 years.
    The fledgling company traded at 6 Norwegian crowns per share
at 0804 GMT, up from 5 crowns in the initial public offering,
giving it a market value of 900 million crowns ($104.50
million), following strong demand in the IPO.
    Brokers Arctic Securities, Carnegie and Sparebank 1 Markets
managed the IPO.
($1 = 8.6128 Norwegian crowns)

 (Reporting by Terje Solsvik, editing by Gwladys Fouche)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70))