Finnair acquires Norra on an interim basis

Eleanor Steed
By Eleanor Steed October 13, 2017 09:42

Finnair acquires Norra on an interim basis

Finnair has acquired 60% of Nordic Regional Airlines (Norra) from Staffpoint and Kilco. Finnair currently owns 40% of the company, and following the transaction Norra will transfer full ownership to Finnair on an interim basis. The transaction has no impact on Norra’s operations or personnel.

Norra operates Finnair’s domestic and European routes as purchase traffic with a total of 24 ATR and Embraer aircraft. Following the changes in StaffPoint’s ownership base disclosed on 5 October 2017, StaffPoint and Kilco have decided to withdraw from the ownership of Norra. Finnair aims to find a new majority owner for Norra.

“Recent years have shown that the partnership model can be successful in domestic and regional purchase traffic. Our aim is to find a new, industrial partner to develop Norra’s business further with us,” says Finnair COO ­Jaakko Schildt.

The transaction requires approval by the Finnish Competition and Consumer Authority.

Eleanor Steed
By Eleanor Steed October 13, 2017 09:42