FINNAIR TO PARTICIPATE IN NEW CARGO AIRLINE VENTURE

Due to increased cargo demand, Finnair Cargo has decided to participate, as a minority shareholder, in Nordic Global Airlines Ltd (NGA), a new all-cargo airline based in Helsinki, Finland. This is in line with previously announced Finnair plans and reflects the company’s strategy of investing in growth areas of the airline industry.

“This shareholding will provide us with additional, cost-efficient cargo capacity, thus enabling continued growth in the steadily increasing Asian freight markets,” says Antero Lahtinen, Finnair’s Senior Vice President, Cargo. “This move reflects our long-term strategy of seeking profitable growth by partnering other industry players in areas where we identify interesting business opportunities.”

The other owners of NGA are the US-based Neff Capital Management LLC and the Ilmarinen Mutual Pension Insurance Company.

The new airline aims to commence intercontinental freighter operations from Helsinki later this year.

Finnair Plc
Communications