Finnair has completed the sale of its Flynordic subsidiary to Norwegian Air Shuttle, which was first announced in April. However the transaction is pending formal approval from the Norwegian competition authority.
Originally founded in 1996, Flynordic has had a difficult history, with Finnair acquiring the balance of shares it did not hold in 2004. Since February 2005 it has been technically bankrupt although operating normally. It has a fleet of nine MD 81 series aircraft.
Norwegian Air Shuttle is an independent Olso-based low fares airline with a fleet of 22 Boeing 737 aircraft. Founded back in the late sixties it was originally known as Busy Bee.
Norwegian Air Shuttle has confirmed that it plans for Flynordic to continue to operate under its own brand name with its programme of both scheduled and charter services.