The Icelandic investment fund FL GROUP has announced the acquisition of the low-cost Scandinavian company, STERLING AIRWAYS, for the sum of DEK 1.5 billion. STERLING AIRWAYS is the leader in low-cost flights in Scandinavia and the 4th low-cost carrier in Europe with 5.2 million passengers foreseen for 2005 and a turnover of around EUR 300 million. With this deal, the turnover of FL GROUP is expected to reach EUR 13.4 billion.