Danish Air Transport has bought a 60% stake in Nordic Regional Airlines, also known as Norra, from Finnair.
Danish Air Transport has acquired 60% of Nordic Regional Airlines, otherwise known as Norra, from Finnair.
The Finnish flag carrier says it was holding a 100% stake on an interim basis, after Norra’s previous owner which held 60% exited the business in November 2017.
Finnair continues to own 40% of the company. As such, “the transaction has no impact on Norra’s operations, personnel or purchase agreement between Finnair and Norra”, Finnair says.
Norra operates Finnair’s domestic and European routes with a total of 24 ATR and Embraer aircraft.
“Finnair’s and Norra’s partnership model in domestic and regional purchase traffic has served us well, and Danish Air Transport will strengthen the partnership even more,” comments Jaakko Schildt, Finnair’s chief operating officer.
He continued: “They have solid experience in operating regional traffic with an ATR fleet.”
Jesper Rungholm, director at Danish Air Transport, said: “We know there are great opportunities in a strategic partnership. We can strengthen our technical and operational knowledge.”
He added: “The companies have the same size and both fly with ATR aircraft, which gives operating and purchasing advantages. With our knowledge on scheduled and charter flights, together with Norra’s knowhow, we can develop the business together. And with new options on the Embraer 190 aircraft, that fits into our niche charter production.”
The transaction still needs approval by the Finnish Competition and Consumer Authority.