Finnair acquires 100% ownership of Flybe Nordic on an 'interim basis'

Finnair acquired (31-Mar-2015) Flybe's 60% stake in Flybe Nordic for a transaction price of EUR1, with the ownership of Flybe Nordic to transfer to Finnair on an "interim basis." As previously reported by CAPA, Finnair signed a MoU on 07-Jan-2015 with StaffPoint Holding Ltd and G W Sohlberg Ltd (GWS) on the companies taking ownership of the 60% stake in Flybe Nordic. The carrier is continuing negotiations with both StaffPoint and GWS. Finnair CEO Pekka Vauramo said: "Last November Finnair and Flybe UK decided to discontinue their Flybe Nordic co-operation and agreed, that Flybe UK will sell its 60% ownership in the company to a potential new majority shareholder or Finnair. While the discussions with Staffpoint and GWS still continue, Finnair will now acquire Flybe UK's share of Flybe Nordic. We hope to sign a new share purchase agreement in the coming months." Mr Vauramo added: "Finnair aims to find together with its partners a business model that would enable the development of regional flying in a financially sustainable way. We will take an important step to this direction at the beginning of May, when all routes operated by Flybe Finland at their own commercial risk will become a part of Finnair's contract flying arrangements." [more - original PR - English/Finnish]