Lego family gets rid of planes

Less Lego money invested in aircraft

May 2, 2014

The investment company Kirk Kapital, which is owned by the the prominent Kirk Johansen family of Lego fame, has disposed of the majority of its aircraft from its investment portfolio, Børsen business newspaper reports.

“Some of them have been sold, some have been rented out again. They have been scattered to the four winds,” Bjarne Amitbøll, the managing director of Kirk Kapital, told Børsen.

American Airlines default
The company had 39 ATR-72 aircraft, which had been leased to American Airlines, but these have been gradually returned since the airline defaulted on payment in 2009. The planes were managed by the company Nordic Aviation Capital, based in Billund. Børsen writes that the company’s holding of aircraft fell from 802 million kroner to 337 million kroner in the last financial year.

Lego fortune
Kirk Kapital now has just 20 aircraft, making up only a small part of its 5.2 billion kroner investment portfolio. The majority of the company’s investments are in paper securities, but it also owns property and a number of container ships.

The investment company was founded in 2007 when the two Lego heirs, Kjeld Kirk Kristiansen and his sister Gunhild Kirk Johansen, reached an agreement about their inheritance of the toy company fortune. Kirk Kristiansen’s side of the family retained Lego while Kirk Johansen and her side had their inheritance paid out and invested through Kirk Kapital.

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