Northern Travel Holding Takes Over Astraeus Ltd. Skip to content

Northern Travel Holding Takes Over Astraeus Ltd.

By Iceland Review

Icelandic company Northern Travel Holding has purchased the entire share capital of UK-based aviation company Astraeus Ltd. Before the takeover, Northern Travel Holding held a 51 percent stake in the company.

Astraeus is involved in charter flights and has its headquarters at London Gatwick international airport. The company operates nine aircraft (five Boeing 757-200, two Boeing 737-700 and two Boeing 737-300), has been in operation for five years with projects all over the globe, including Iceland, reports.

Northern Travel Holding is owned by Fons (44 percent), FL Group (34 percent) and Sund (22 percent) and its subsidiaries and affiliates are: Sterling Airlines (100 percent), Iceland Express (100 percent), Astraeus (100 percent), Hekla Travel (100 percent) and Ticket Travel Group (30 percent).

Northern Travel Holding focuses primarily on the operation of airlines and other companies involved in the tourist industry in the Nordic countries and northern Europe.

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