Finnair (AY, Helsinki Vantaa) says it has finalized the terms of sale of a 60% stake in its Nordic Regional Airlines AB unit to fellow Finnish firms, StaffPoint Holding Ltd (StaffPoint) and Kilco Oy. The latter enters the arrangement in lieu of Oy G.W. Sohlberg Ab (GWS), which was previously part of the negotiations. Kilco Oy is an investment company owned by the family of StaffPoint CEO Mika Kiljunen and is a co-owner of StaffPoint.
Pending Finnish Competition and Consumer Authority approval, StaffPoint will hold 45% of the shares in NRA, Kilco 15% and Finnair 40%.
Nordic Regional Airlines AB owns the entire share stock in its Finnish subsidiary NoRRA Nordic Regional Airlines Oy (Norra). Norra operates twelve ATR72-500s, two E170s, and twelve E190s on domestic Finnish and regional European routes. The firm had previously operated as Flybe Finland Oy (which owned flybe. Nordic (Helsinki Vantaa)) until flybe. (2002) (Exeter) sold its 60% stake to Finnair earlier this year.
