British company Flybe is relinquishing its 60% holding in the Nordic budget airline, and Finnair is set to replace them with investment firm G.W. Sohlberg and temp agency StaffPoint.
Finnair will retain a 40% holding in the new firm, with Staffpoint taking 45% and GWS set for a 15% stake. The sale of the shares is conditional upon approval being received from the Finnish competition authorities.
The transaction price is 1 euro.
Flybe Nordic flies most of Finnair's domestic routes and some of its European flights. Finnair announced on Wednesday that flights operated by Flybe Finland will continue normally.