newstodate.aero
Jul 01, 2011 (newstodate): Finnair and Flybe have announced the launch of a new JV to acquire Finnish Commuter Airlines, Finncomm.
The future ownership of Finncomm will be split with 60 percent of the stake held by Flybe and the remaining 40 percent by Finnair.
FCA will continue operating FCA's existing domestic routes under the Flybe brand, while Flybe plans to take over the day-to-day operation and management of the airline from August 1, 2011.
Under the JV to be named Flybe Nordic AB, Finnair will buy the FCA fleet of nine ATR 72 aircraft at market price and lease them to FCA, owned by Flybe Nordic.
In addition, Finnair has committed to purchase the three Finncomm ordered, high-demand ATR 72s, to be delivered autumn 2011 and autumn 2012.
The aircraft will be leased directly to FCA at a market price.
The remaining four ATR 42 aircraft owned by Finncomm Oy will be leased to FCA for certain predefined periods, and in addition FCA will continue leasing of two Finnair owned E170 aircraft.
FCA will continue to operate its current routes under Flybe brand but the intention of Finnair and Flybe is to develop the joint venture to become the leading regional airline for the Nordic and Baltic countries in the coming years.
The future ownership of Finncomm will be split with 60 percent of the stake held by Flybe and the remaining 40 percent by Finnair.
FCA will continue operating FCA's existing domestic routes under the Flybe brand, while Flybe plans to take over the day-to-day operation and management of the airline from August 1, 2011.
Under the JV to be named Flybe Nordic AB, Finnair will buy the FCA fleet of nine ATR 72 aircraft at market price and lease them to FCA, owned by Flybe Nordic.
In addition, Finnair has committed to purchase the three Finncomm ordered, high-demand ATR 72s, to be delivered autumn 2011 and autumn 2012.
The aircraft will be leased directly to FCA at a market price.
The remaining four ATR 42 aircraft owned by Finncomm Oy will be leased to FCA for certain predefined periods, and in addition FCA will continue leasing of two Finnair owned E170 aircraft.
FCA will continue to operate its current routes under Flybe brand but the intention of Finnair and Flybe is to develop the joint venture to become the leading regional airline for the Nordic and Baltic countries in the coming years.