Flybe/Finnair FCA purchase to create new Nordic operation
Flybe has announced a joint venture with Finnair to buy Finnish Commuter Airlines (FCA) in a bid to create a major regional airline for the Nordic and Baltic countries.
The €25 million deal comes just 24 hours after Flybe’s annual losses of £4.3 million were announced.
In a 60:40 acquisitional split in Flybe’s favour, the purchase, which is still subject to competition clearance, will see the UK domestic carrier take control of 15 planes which carry some 900,000 passengers a year. It will take over the day-to-day running of FCA from August 1.
Flybe says it intends to push the airline out to new markets including Sweden, Denmark, Estonia and Latvia and will introduce its low fare concept to the region.
The new company will also be able to offer passengers Finnair’s extensive European and Asian network.
The joint venture will announce a new route network in August that will operate from October 30.
Flybe chairman and chief executive Jim French, said: “Finnish and Nordic passengers will see something very different from what has been available to them in the past. Flybe and Finnair have come together in a genuine partnership of equals that will bring huge benefits not just for Finnish passengers but also for the country’s economy.
 “In establishing much-needed point-to-point routes, opening new bases in Finland, expanding into new markets – and in the process, becoming a recognised champion dedicated to the Nordic regions – the companies hope to create a brand new generation of Flying Finns!â€
Chief executive of Finnair Mika Vehvilainen added: “We have joined forces with Flybe to establish a strong, complementary and cost-efficient operator in the Nordic market. In addition to point-to-point connections, the airline will form an effective feeder platform for our international operations. We also felt that thanks to Flybe’s long experience in regional point-to-point flying the company was the best possible partner for a network operator like Finnair. Together we will be able to take the customer experience to a new level.”
Dinah
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