Interim report for the 1st quarter of 2011/12

In the course of Q1 2011/12, Cimber Sterling got a new major shareholder — Mansvell Enterprises Ltd. — which has made an injection of DKK 165.75 million of capital through a directed share issue. The agreement with Mansvell gives Cimber Sterling a principal shareholder with a strong capital base and with ambitions as well as the necessary funds to establish a strong Nordic regional airline. Mansvell has thorough knowledge of the airline industry and already owns Swedish-based airlines Skyways and City Airline.

Revenue in Q1 2011/12 increased by 21% to DKK 635 million, and EBIT improved from a loss of DKK 10 million to a loss of DKK 9 million in spite of an increase in fuel costs by DKK 39 million. The guidance for the full year 2011/12 is retained.