Finland Times

In a release, Finnair said the share sale is conditional to getting the approval of the Finnish competition authorities.

Upon execution of the sale, StaffPoint’s ownership in the joint venture will be 45 per cent, GWS’s 15 per cent and Finnair will retain a 40 per cent shareholding.

Finnair confirmed that flights operated by Flybe Finland will continue normally. 

“We are pleased that we will have Finnish companies StaffPoint and GWS as partners. When the deal is realized, Flybe Finland and its board of directors will start jointly developing a business model for the company and improving the effectiveness and profitability of regional flying,” said Finnair CEO Pekka Vauramo in the release.

Finnair and Flybe UK Ltd announced on November 12, 2014 that the shares of Flybe Nordic held by Flybe UK would be sold to a new majority shareholder, or to Finnair.

Finnair at the time said its goal was to find a new majority shareholder for Flybe Nordic and that to find solutions that would enable the development of regional flying in a financially sustainable way.