Finnair CEO denies airline may join IAG

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By TESTCustomwebLP TESTCustomwebLP August 26, 2014 15:11

Finnair CEO denies airline may join IAG

Finnair President and CEO Pekka Vauramo has ruled out the possibility of Finnair joining the International Airlines Group (IAG) in the near future.

Vauramo has stated that a key obstacle to a change in ownership of the airline is the existing Finnish legislation governing the airline’s ownership structure.

Vauramo said: “Finnair is a 56% government-owned business. According to Finnish law, the majority ownership needs to remain with the Finnish government unless the Finnish Parliament decides differently. The debate is ongoing, but it needs to lead to a decision before anything can move on, so it’s a little too early to start thinking about that.”

Speculation about a possible privatization of the carrier has grown in recent years, mostly due to the airline’s struggling financial position, but also as a result of its membership of the Oneworld Alliance.

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By TESTCustomwebLP TESTCustomwebLP August 26, 2014 15:11