Nordic Regional Airlines

Nordic Regional Airlines Oy, also known as Norra, and previously known as Flybe Nordic, is a Finnish airline owned by Finnair. The airline began operations on 20 October 2011 as a joint venture between Flybe and Finnair, following their acquisition of Finncomm Airlines. Flybe sold its 60% to Finnair as a temporary solution at a price of one euro (€1) in March 2015. Ownership negotiations with StaffPoint and G.W. Sohlberg are still under way. The airline has operated under Finnair's flight code since 1 May 2015.

History

The creation of 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. 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. Flybe has a majority stake in Flybe Nordic, holding a 60% stake in the airline, with Finnair holding the remaining 40%; Flybe has three seats on the airline's board of directors with Finnair having the other two. 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.