Feel Air : : :

Feel Air, a new Scandinavian LCC, will begin operations with Stockholm Arlanda-New York JFK and Oslo Gardermoen-Bangkok service in spring 2010 aboard dry-leased A330-200s, it announced yesterday. It currently is raising capital of NOK240 million ($42.1 million) with Norwegian investment bank DnBNOR Markets. The new airline will be led by former Norwegian DG-Civil Aviation Otto Lagarhus and former Senior VP of VIA Travel Group Kai Holmberg.
"We are building a Ryanair-type cost religion, combined with AirAsia X operation and business model, wrapped up in a Virgin-style employment and branding philosophy," Holmberg said. Feel Air will target leisure travelers and plans to weight frequencies toward New York in the summer and Thailand in the winter. It predicted EBITA of NOK48 million next year based on yield of $0.05, load factor rising from 49% to 76% and fleet utilization of 16.7 hr. per day.
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