Finnair has sold its shareholding in Norwegian for approximately 53 million euros

Finnair has sold today its entire holding of 1,649,862 shares, representing 4.69% of total shares, in Norwegian Air Shuttle ASA (Norwegian). The shares were sold for approximately 53 million euros, and Finnair’s capital gain for the transaction totalled approximately 34 million euros. It will be recorded as financial income in Finnair’s second quarter 2013 accounts.

Finnair’s holding in Norwegian was included in Finnair’s 2012 Financial Statements in other short-term financial assets and it was valued at fair value. The proceeds from the sale will be used for the development of the Finnair and implementation of its growth strategy. The sale of Norwegian shares increases Finnair’s shareholders’ equity by approximately 16 million euros compared to 31.12.2012 level.