newstodate.aero
Dec 09, 2010 (newstodate): Contrary to initial expectations, the future ownership structure of the Finnish commuter carrier Finncomm will not be settled in 2010.
In September 2010, Finnair and Finncomm signed a preliminary agreement, firstly on the purchase of a 20 percent minority interest in Finnish Commuter Airlines Oy that provides Finncomm's air traffic operations, and secondly on the acquisition of the entire share stock of the companies that own the Finncomm Group's four ATR 42 and eight ATR 72 aircraft.
In the announcement, Finnair assumed that the possible transaction would be finalised and completed before the end of this year.
The idea was to attract external investors in Finncomm Commuter Airlines in addition to Finnair, and this has obviously proved not to be feasible within the earlier time frame.
Finnair now says a decision would be expected during Q1, 2011, instead.
While Finnair is still haunted by a cabin crew strike, Finncomm is operating normally.
In September 2010, Finnair and Finncomm signed a preliminary agreement, firstly on the purchase of a 20 percent minority interest in Finnish Commuter Airlines Oy that provides Finncomm's air traffic operations, and secondly on the acquisition of the entire share stock of the companies that own the Finncomm Group's four ATR 42 and eight ATR 72 aircraft.
In the announcement, Finnair assumed that the possible transaction would be finalised and completed before the end of this year.
The idea was to attract external investors in Finncomm Commuter Airlines in addition to Finnair, and this has obviously proved not to be feasible within the earlier time frame.
Finnair now says a decision would be expected during Q1, 2011, instead.
While Finnair is still haunted by a cabin crew strike, Finncomm is operating normally.