newstodate.aero
Dec 04, 2014 (newstodate): As Finnair puts a stop to its all-freighter operations with the turn of this year, questions arise over its future participation in Nordic Global Airlines.
A Finnair Cargo spokeswoman, however, says "Finnair Group has a minority shareholding on NGA, and there has not been a decision taken to change that".
Behind Nordic Global Airlines is the majority investor, the US-based Neff Capital Management LLC together with the Finnish company Ilmarinen Mutual Pension Insurance Company, with Finnair Cargo holding 40 percent of the shares.
Operating since August 2011 with Jim Neff as CEO, NGA operates a fleet of four converted ex-Finnair MD-11 aircraft on ACMI and ad-hoc cargo charters for Finnair, ANA Aviation, EuroCargo and other customers.
It now remains to be seen if Finnair will maintain its stake in NGA in a time when many non-core business activities has been divested of by the Finnair Group seeking cost cuttings and reorganization.
A Finnair Cargo spokeswoman, however, says "Finnair Group has a minority shareholding on NGA, and there has not been a decision taken to change that".
Behind Nordic Global Airlines is the majority investor, the US-based Neff Capital Management LLC together with the Finnish company Ilmarinen Mutual Pension Insurance Company, with Finnair Cargo holding 40 percent of the shares.
Operating since August 2011 with Jim Neff as CEO, NGA operates a fleet of four converted ex-Finnair MD-11 aircraft on ACMI and ad-hoc cargo charters for Finnair, ANA Aviation, EuroCargo and other customers.
It now remains to be seen if Finnair will maintain its stake in NGA in a time when many non-core business activities has been divested of by the Finnair Group seeking cost cuttings and reorganization.