The Finnish competition authority approved Flybe Nordic transaction

The Finnish Competition and Consumer Authority has approved the transaction in which Flybe UK Ltd’s 60 % ownership of Flybe Nordic venture will be transferred to StaffPoint Holding Ltd and G.W. Sohlberg Ltd (GWS) . The letter of intent on this transaction was announced on 7 January 2015. Upon completion of the sale, StaffPoint’s ownership in the joint venture will be 45%, GWS’s 15% and Finnair’s 40%. The transaction is expected to be closed in early February 2015.

Flybe Nordic owns fully the Finnish subsidiary Flybe Finland, which is in charge of Finnair’s regional airline operations. Flybe Finland currently operates to a number of domestic and European destinations from Helsinki on behalf of Finnair on a contract-flying basis. In addition, Flybe Finland operates to five domestic destinations as well as Tartu, Estonia and Norrköping, Sweden at its own commercial risk.

Previous stock exchange releases regarding this transaction were published on 7 January 2015 and 11 November 2014.