Nordic Global Airlines makes its entrance
05 / 04 / 2011
IT has been in the pipeline for months and now Finnair Cargo and Neff Capital’s plans to form a new all-cargo airline have come to fruition.
Nordic Global Airlines (NGA), in which the Ilmarinen Mutual Pension Insurance Company also has a stake, will be based in Helsinki.
“We believe that Helsinki is a natural base for a wide-body freighter operation, given its proximity to Asia and location among the growing economies of Europe. We expect NGA to benefit from these natural advantages as it grows its fleet,” Brian Neff, president of Neff Capital Management, said.
Finnair Cargo’s minor stake will see it gain ground on lucrative Asian and North American routes.
“This shareholding will provide us with additional, cost-efficient cargo capacity, thus enabling continued growth in the steadily increasing Asian freight markets,” Antero Lahtinen, Finnair’s senior vice-president of cargo, commented. “This move reflects our long-term strategy of seeking profitable growth by partnering other industry players in areas where we identify interesting business opportunities.”
NGA’s MD-11Fs are due to be airborne later this year.