Star Europe, the airline and subsidiary of Avion Group, has signed a
wet lease agreement with TUI, Germany’s biggest leisure company. Star Europe signs a contract with TUI and increases number of aircraft in operation.
The lease will commence at the beginning of June 2006 and will continue for five months, operating flights from Frankfurt to a number of TUI’s destinations, for example Palma, Rhodes, Heraklion and Lanzarote.
The total value of the agreement is approximately Euros
12.4 million or ISK 1.1 billion.
Star Europe recently began operating in Germany with two Airbus 320
aircraft scheduled to fly during Summer 2006. Due to an increase in
demand, this will be increased to four aircraft with additional
aircraft planned over time.
Star Europe received its aircraft operating certificate ‘AOC’ after
only three months; a process that normally takes between 12 and 18
months. Star Europe’s CEO is Martin Greiffenhagen, a German national
with decades of experience in the airline industry.
This Summer, Star Europe will operate flights to Southern and Eastern
Europe and the Middle East based from four airports in Germany:
Dusseldorf, Frankfurt, Cologne and Stuttgart.
Initial Star Europe flights operated under the German airline,
Germanwings. In addition to the TUI contract Star Europe has secured
flights for many German tour operators and airlines.
Avion’s strategy is to strengthen the Group’s Charter & Leisure
Division outside of the UK. Avion now holds an AOC in the UK, France
and Germany, a combined population of over 200 million.
Magnus Thorsteinsson, Executive Chairman of Avion Group said:
“We are very pleased that Star Europe has finalised an agreement with
the biggest leisure operator in Germany, only one month after
commencement of the airline. The contract with TUI is a fantastic
endorsement of our airline and proves a great motivation for Star
Europe as an operator within the biggest leisure market in Europe.”