Alsie Express (Sønderborg) recorded a net loss of DKK1.51 million kroner (USD225,000) for the financial year ended April 30, 2026, despite receiving a DKK21.5 million (USD3.2 million) donation from the Bitten & Mads Clausens Foundation, a founding and continuing financial backer of the Danish carrier, which is a virtual brand of Air Alsie.

The latest annual results reversed a net profit of DKK1.52 million (USD227,000) generated in the prior year, according to an annual report seen by ch-aviation.

The foundation has consistently backed the virtual carrier, with DKK27.6 million (USD4.1 million) in 2024/25, following DKK35.5 million (USD5.3 million) in 2023/24, and DKK14.6 million (USD2.1 million) in 2022/23.

Bitten & Mads Clausens Foundation helped establish Alsie Express in 2013, investing in two ATR72-500s to secure a reliable air link between Sønderborg and Copenhagen Kastrup, serving the needs of businesses in the region, particularly Danfoss, the engineering and technology company founded in 1933 by Mads Clausen. In addition, the foundation, established by Clausen's widow Bitten, co-owns the company that operates Sønderborg airport, where Alsie Express is based.

Despite the funding, Alsie Express' equity position deteriorated from a negative DKK10.8 million (USD1.6 million) to negative DKK12.3 million (USD1.8 million). The company said it had exhausted its share capital and was working on solutions to restore its equity, with Air Alsie having issued a letter of support (støtteerklæring).

Alsie Express continues to operate with no directly employed staff. All required operational and flight personnel are hired through Air Alsie, which operates the two ATR72-500s, according to ch-aviation data. Both entities are owned by Sandma Holdings.

ch-aviation has contacted the company for comment.