Finnair Group's ground handling subsidiary Northport Oy and international ground handling company Menzies Aviation Plc have signed a Memorandum of Understanding on a sale of shares by which Northport subsidiaries Finnhandling AB and Northport Norway AS as well as Arlanda Airport lounge and ticket sales services will be transferred to Menzies. The parties aim for completing the transaction by 30 September 2007. “We will now concentrate on improving Northport's profitability as well as developing its Helsinki-based operations. Our subsidiary in Arlanda was already operating profitably for the past few years. The operations in Oslo were launched last October,” explains Northport Oy Managing Director Jukka Hämäläinen. The target companies have been operating with personnel from the Proffice staffing company. The companies have a total of 25 own staff which will transfer to Menzies as old employees. According to the Memorandum of Understanding, Menzies will provide the ground handling services for Finnair flights at Stockholm and Oslo airports. “The sale is a part of Northport's restructuring programme. It does not have an immediate effect on Helsinki ground handling activities, and our work to turn the company around continues,” says Hämäläinen. Finnair Plc Communications 12.9.2007 Menzies Aviation is one of the world's major independent suppliers of ground handling services to the aviation market providing passenger, ramp and cargo services for many of the world's leading airlines and some of the busiest international airports. The division employs more than 12,500 people across the world, at some 109 airports in 24 countries servicing more than 500 aviation customers. Northport Oy is a company providing ground handling services at Helsinki-Vantaa Airport. Its areas of activity include air travel check-in, gate and baggage services. Northport's largest customer is Finnair Schedules Passenger Traffic and Finnair Leisure Flights. Approximately 20 per cent of its turnover comes from third party customers. Additional information: Jukka Hämäläinen, Managing Director, Northport Oy, tel. +358 9 818 5300
FINNAIR GROUP SUBSIDIARY NORTHPORT OY TO SELL SWEDISH AND NORWEGIAN FUNCTIONS TO MENZIES AVIATION
| Source: Finnair Oyj