Norwegian Investor Pulls Out Of Finnair

Finnair has confirmed that its second largest shareholder, Norwegian investment firm Skagen, has sold its stake in the carrier.

Finnair has confirmed that its second largest shareholder, Norwegian investment firm Skagen, has sold its stake in the carrier.

Skagen held approximately six per cent of Finnair’s shares, selling them yesterday (November 26) in a deal estimated to be worth €16m ($20m), according to local news reports.

Finnair remains more than 50 per cent state owned, with Finnish pension funds making up the next largest shareholders.

The news came just weeks after Finnair announced that UK-based carrier Flybe will sell its 60 per cent share in the airlines’ joint venture (JV), Flybe Nordic, by the end of the year. Flybe’s exit comes after the partners failed to resolve the JV’s “profitability issues”. 

TAGS: Europe
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish