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Nordic Regional Airlines

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Flybe Nordic is a planned airline, jointly owned by Flybe and Finnair, and planned to start operations on 1 August 2011.

History

The airline was announced on 1 July 2011, when Flybe and Finnair revealed plans to jointly purchase Finnish Commuter Airlines (FCA) and rebrand the airline Flybe Nordic, with Flybe and Finnair each holding a stake in the new entity.[1] Under the terms of the agreement, contingent on approval by regulatory authorities, the purchase price of FCA was €25 million, of which Flybe would pay €12 million and Finnair €13 million.[2] Flybe is to have a majority stake in Flybe Nordic, holding a 60% stake in the airline, with Finnair holding the remaining 40%; Flybe will have three seats on the new airline's board of directors with Finnair having the other two.[2] Flybe planned to invest a total of €23.6 million into the new airline, including expenses such as loan repayments in addition to the purchase price of FCA.[3]

At the time of the announcement of Flybe Nordic's creation, Flybe planned to begin operating the new airline on 1 August 2011, with the FCA name being phased out.[1] A new route network was also planned to be announced in mid-August.[2]

Fleet

Flybe Nordic will begin operations with nine ATR 72s previously operated by FCA, as well as four ATR 42s and two Embraer 170s, with three ATR 72s on order.[1] The ATR 72s will be owned by Finnair, which plans to buy them from FCA at a cost of €104 million, and leased to Flybe Nordic, as will the Embraer 170s, previously owned by Finnair.[1] The ATR 42s will be owned by Finncomm, FCA's parent company, and also leased to Flybe Nordic.[1]

References

  1. ^ a b c d e "New Nordic carrier to emerge from Flybe-Finnair tie-up". Flightglobal.com. 1 July 2011. Archived from the original on 4 July 2011. Retrieved 5 July 2011.
  2. ^ a b c "Flybe, Finnair To Acquire A Nordic Airline". Aviation Week. 1 July 2011. Retrieved 5 July 2011.
  3. ^ "UPDATE 2-Finnair, Flybe to buy Finnish regional carrier". Reuters UK. 1 July 2011. Archived from the original on 4 July 2011. Retrieved 4 July 2011.
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