Finnair to Opt Out of Norwegian

Finnair was a major shareholder in Norwegian when it sold its subsidiary FlyNordic to Norwegian. With the agreement in 2007, Finnair received about 5 percent shares of the Norwegian company.

According to Dagens Næringsliv, it is expected that the shares will be sold on Monday. With the current price of Finnair, the company will gain about 260 million NOK, according to the newspaper. Finnair’s shares in Norwegian is 4.69 percent, and it is therefore not necessary to report to the Oslo Stock Exchange. But Finnair must inform the Finnish stock exchange about the sale.

Finnair is the third largest shareholder in Norwegian. Norwegian CEO Bjorn Kjos and his company HBK, and the National Insurance Fund are the two largest shareholders. 

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