Category Archives: Nordic Regional Airlines

Finnair receives permission to transfer its 60% share of Nordic Regional Airlines

Finnair logo

Finnair (Helsinki) has announced its has received permission to transfer its 60 percent stock ownership in Nordic Regional Airlines to StaffPoint Holding Oy and Kilco Oy. Finnair wiill retain a 40 percent interest in the regional feeder airline. Here is the official statement:

Nordic Regional-Norra logo (blue)(LRW)

The Finnish Competition and Consumer Authority has approved the transaction in which Finnair transfers 60% of the shares in Nordic Regional Airlines AB to StaffPoint Holding Oy and Kilco Oy. Upon completion of the sale, StaffPoint’s ownership in the joint venture will be 45%, Kilco’s 15% and Finnair’s 40%. The transaction is expected to close in November 2015.

Finnair-Nordic Regional aircraft slide show: AG Airline Slide Show

Copyright Photo Below: Rolf Wallner/AirlinersGallery.com. Nordic Regional operates ATR 72s and Embraer regional jets for Finnair in Finnair colors. Embraer ERJ 190-100LR OH-LKL (msn 19000153) taxies at Zurich.

Finnair (Nordic Regional Airlines-Norra) Embraer ERJ 190-100LR OH-LKL (msn 19000153) ZRH (Rolf Wallner). Image: 929151.

 

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Finnair continues negotiations to sell 60% of Nordic Regional Airlines

Finnair (Helsinki) has issued this update on the on-going negotiations with Staffpoint and G.W. Sohlberg to sell a 60 percent share in its subsidiary Nordic Regional Airlines (Norra) (previously Flybe Nordic) (Helsinki). Norra operates 12 ATR 72-500s, two Embraer ERJ 170s and 12 Embraer ERJ 190s for Finnair on domestic and European routes. Here is the update:

Finnair logo

Finnair, Staffpoint Holding Ltd (Staffpoint) and G.W. Sohlberg Ltd (GWS) have previously indicated an intention to conclude a transaction whereby 60 percent of the shares in Nordic Regional Airlines AB would be transferred to the ownership of Staffpoint and GWS.

As of March 31, 2015, Finnair has owned 100 percent of the company during an interim permission by the Finnish Competition and Consumer Authority (FCCA). Due to the negotiations being protracted and the interim permission expiring, Finnair has now filed an application with the FCCA to approve the current ownership structure.

However, negotiations on the ownership arrangements of Nordic Regional Airlines AB continue, and Finnair expects the transaction to proceed within the next few months. The delay is due to the need of the parties to assess even more thoroughly the alternative traffic models of regional flying in a constantly developing operating environment.

Nordic Regional Airlines AB owns the entire share stock in its Finnish subsidiary Nordic Regional Airlines Oy (Norra).

Nordic Regional-Norra logo (blue)(LRW)

 

Norra operates a fleet of 26 ATR and Embraer planes on Finnair’s domestic and European routes. The company previously operated under the name Flybe Finland Oy.

Norra - At your service (crew)

Above Photo: Norra.

On January 7, 2015, Finnair signed a Memorandum of Understanding (MOU) with Staffpoint and GWS on a transaction whereby Staffpoint and GWS would jointly acquire from Flybe Ltd its 60 percent majority stake in Finnair’s and Flybe Ltd’s joint venture company, Nordic Regional Airlines AB.

While the negotiations continued, Finnair acquired Flybe Ltd’s stake, and Flybe Nordic was thus transferred entirely to Finnair’s ownership on March 31, 2015.

Finnair has issued stock exchange releases on the Norra transactions on November 12, 2014, January 7, 2015, January 29, 2015 and March 31, 2015.

Top Copyright Photo: Paul Bannwarth/AirlinersGallery.com. Finnair (Nordic Regional Airlines-Norra) Embraer ERJ 190-100LR OH-LKH (msn 19000086) prepares to land in Zurich.

Finnair aircraft slide show: AG Airline Slide Show

Finnair-Norra aircraft slide show: AG Airline Slide Show

Video: A typical turnaround flight in rural Finland.

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Flybe Finland to become Nordic Regional Airlines

Flybe (Nordic) ATR 72-500 OH-ATG (02)(Tko) HEL (Flybe.fi)(LRW)

Flybe Finland (Helsinki) will become Nordic Regional Airlines in May reflecting the recent change in ownership. The name change still requires approval by the Trade Register, which is expected to take place in early May.

Flybe.fi logo-1

According to the airline’s CEO Maunu Visuri, “The new name reflects our company’s core business, i.e. the regional flying. Our goal is to continue to be a high-quality and skilled Nordic airline to offer excellent service to their customers.”

A new look will be unveiled in the early summer and the transformation will be implemented in stages during 2015.

Flybe Finland aircraft slide show: AG Airline Slide Show

All images by Flybe Finland.

Flybe (Nordic) ATR 72-500 (02)(Tail)(Fly.be)(LR)