Finnair has completed the sale of 60% of its regional operation—Nordic Regional Airlines (Norra)—to Danish Air Transport (DAT), after securing competition clearance for the deal that was announced in late August.

On Aug. 30, Finnair named DAT as Norra’s new majority shareholder. DAT is a privately owned company that operates scheduled, charter and cargo flights.

“We received competition office approval in early October, so that is fully completed,” Finnair CFO and interim CEO Pekka Vähähyyppä said, responding to a question from ATW on Finnair’s third-quarter results webcast Oct. 25.

Norra operates Finnair’s domestic and European routes using a fleet of 12 ATR 72-500s and 12  Embraer E190s.

The Finnish regional, which started life as Flybe Nordic, has been through a series of ownership changes since 2015, when UK-based regional operator Flybe exited its 60% stake in the joint venture.

Finnair renamed the airline Norra and took full ownership on an interim basis, before finalizing the transfer of the 60% stake to human resources specialist StaffPoint Holding (45%) and investment company Kilco (15%). However, the two companies ultimately exited the JV because of an ownership change at StaffPoint, forcing Finnair to again take interim full control since November 2017.

Victoria Moores