Flybe säljer sin andel i Flybe Nordic

Diskussion i 'Finnair & Finnair Plus' startad av Jacob, 12 November 2014.

  1. Jacob

    Jacob Medlem

    Denna kom precis på mailen.

    Flybe and Finnair have agreed to restructure the ownership of their jointly owned Flybe Nordic venture, and Flybe has agreed to sell the shares that it holds in Flybe Nordic to a potential new majority shareholder or to Finnair for the price of one euro. The sale of the shares is conditional only upon approval being received from the competition authorities.

    Flybe Nordic owns fully the Finnish subsidiary Flybe Finland, which is in charge of Finnair’s regional airline operations. Consequently, Finnair is now mapping alternatives to continue Flybe Finland's regional flying with a cost-effective business model and new ownership structure for Flybe Nordic. These alternatives include a potential new majority shareholder for Flybe Nordic.

    Finnair and Flybe began their cooperation in 2011 when they founded the Flybe Nordic joint venture, of which Flybe owns 60 per cent and Finnair 40 per cent.

    The companies have already for some time discussed the restructuring and cost saving strategy for Flybe Finland. The companies have not been able to arrive at a common understanding to resolve profitability issues. Flybe and Finnair accordingly have signed an agreement under which it is intended that Flybe will exit Flybe Nordic by the end of 2014, subject to approval being received from competition authorities.

    The operations and flights of Flybe Finland will continue normally.

    “The financial performance of our joint venture has not developed according to the expectations of its shareholders. We haven’t been able to arrive at a common view to resolve the profitability issues, and therefore the companies have agreed to discontinue the cooperation. Finnair aims to find a new majority shareholder and a business model that would enable the development of regional flying in a financially sustainable way,” says Pekka Vauramo, Finnair CEO.

    Flybe Finland currently operates to a number of domestic and European destinations from Helsinki on behalf of Finnair on a contract-flying basis. In addition, Flybe Finland operates to five domestic destinations as well as Tartu, Estonia and Norrköping, Sweden at its own commercial risk.

    Flybe Finland started operating code share flights in August 2011 with ATR 72 aircraft and two Embraer 170s. On 28 October 2012, the cooperation was expanded to cover European flights with Embraer 190 aircraft as contracted flying, after which Flybe Finland has operated a third of Finnair’s European traffic.

    Finnair’s balance sheet includes a 9.9 million euro subordinated loan issued to Flybe Finland in 2011. Finnair has written down the value of its Flybe Nordic AB shares following the realized losses of Flybe Finland.

    Finnair also has advance payment and other operational receivables from Flybe Finland. Due to Flybe Finland’s ownership change and the need to restructure its operations, it is possible that a part of these receivables cannot be collected. Finnair is also considering giving working capital financing to Flybe Finland. Finnair estimates that the resulting financial impacts will not exceed -20 million euros. The exact overall impact will be communicated when the ownership structure is defined.
     
    Tommy Palomäki gillar detta.
  2. Jet time kanske...(?) Finnair använder ju nästan bara Embraer från Flybe nu, så det står femton (inkl tre order) ATR 72-500 på "lager".

    Skulle mer än dubblera Jet times flotta av ATR, och SAS är ju garanterat intresserade av det...
     
  3. Tommy Palomäki

    Tommy Palomäki Medlem

    Land:
    Sverige Sverige
    JetTime Finland finns redan som ett juridisk bolag så JetTime skulle kunna vara ett alternativ...
     
  4. JonW

    JonW Medlem

    Land:
    Sverige Sverige
    Jet Time without jets...
     
  5. Jaha, å jag som har x antal flygningar till HEL inbokade med FlyBe, suck...
    Hoppas dessa ej blir avbokade bara då jag har flyg vidare bokat från HEL med andra bolag:eek:
     
  6. Blev Finnair som köpte 60%, för 1€. De fick en jäkla massa flygplan, men också en stor skuld. Med de besparingsåtgärder om 2 miljarder man redan har framför sig klarar man det inte utan att få in nytt kapital. Om de blir emission eller annan lösning återstår att se.

    Flygtorget Flygnyheter Flygnyheter Finnair kper Flybe Nordic

    Kanske förtjänar det en egen artikel....månne på förstasidan. @Jacob (?)
     

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