newstodate.aero
Mar 17, 2011 (newstodate): Things are not exactly moving according to Finnair's plans for the purchase of a 20 percent minority interest in Finnish Commuter Airlines Oy, Finncomm.
When announced in September 2010, the parties expected the deal to be completed before the end of the year.
Later, in December 2010 Finnair said a final decision would be expected during Q1, 2011, instead.
Now, Finnair is again forced to conclude that it is not really that uncomplicated.
-Talks on partnership arrangements are taking more time than expected, so contractual negotiations will not be completed during the first quarter, as previously announced, says Finnair in a statement.
Finnair now says the purchase will be effected by the 2. quarter of 2011.
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.
When announced in September 2010, the parties expected the deal to be completed before the end of the year.
Later, in December 2010 Finnair said a final decision would be expected during Q1, 2011, instead.
Now, Finnair is again forced to conclude that it is not really that uncomplicated.
-Talks on partnership arrangements are taking more time than expected, so contractual negotiations will not be completed during the first quarter, as previously announced, says Finnair in a statement.
Finnair now says the purchase will be effected by the 2. quarter of 2011.
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.