Finncomm Group has sold Finnish Commuter Airlines to a Flybe & Finnair joint venture
Finncomm Group, the owner of Finnish Commuter Airlines, the largest domestic airline in Finland, has sold the company to a joint venture between Flybe, Europe’s largest regional airline, and Finnair, Finland's flagship carrier, for US$35 million.
Finnish Commuter Airlines is Finland's largest domestic airline, flying around 900,000 passengers per annum in the Finnish domestic and Nordic and Baltic regional markets.
Headquartered in Exeter, UK, Flybe is Europe's largest regional airline and the UK's largest domestic airline. The airline operates 69 aircraft from 14 UK domestic airport bases and serves 73 airports throughout the UK and twelve other European countries.
Finnair, Finland's flagship carrier since 1923, is one of the world's longest continuously operating airlines. Its strategic focus is on flights between Asia and Europe.
Finncomm Group is a privately held Finnish aviation group, the former owner of Finland's largest domestic airline Finnish Commuter Airlines with a fleet of 16 ATR aircraft. Finncomm has also been active in aircraft maintenance, ground handling and pilot and crew training. Post-transaction, Finncomm Group will focus on ground handling and aircraft leasing through its remaining fleet of 4 ATR 42 aircraft.
Oaklins' team in the Baltic region acted as advisor to Finncomm Group, the owner of Finnish Commuter Airlines, in this transaction. The team evaluated Finncomm's strategic options and assisted in reorganizing the group of almost 20 companies, which allowed Finncomm Group's airline and the aircraft companies to be sold to two different buyers. The decision of choosing Flybe and Finnair as the most suitable buyers was followed by complex three party negotiations, during which Flybe and Finnair negotiated simultaneously a mutual joint venture agreement.
Talk to the deal team
ATG Europe has sold a majority stake to Pauwels Consulting
ATG Europe, a pan-European provider of high-end professional consulting, IT and engineering services for the space and nuclear fusion domains, has agreed to sell a majority stake to Pauwels Consulting, a prominent player in science and technology consulting.Learn more
Stark Metal Sales has been acquired by Pennsylvania Steel Company
The shareholders of Stark Metal Sales have sold the company to Pennsylvania Steel Company.Learn more
Domusa Group pursues a buy-and-build strategy with the acquisition of Technic Aviation, a MRO specialist
Domusa Group has acquired Technic Aviation. Six months after the acquisition of Equip'Aéro, Domusa Group has pursued its build up strategy by acquiring Technic Aviation. After a competitive sale process, Olivier Marche, CEO and shareholder of Technic Aviation for the last 12 years, selected Domusa Group. The deal is financed by a new equity raising from Galiena Capital and Irdi Impulsion, combined with acquisition debt provided by three banks.Learn more