Norwegian expands to worldwide cargo / News / The Foreigner

Norwegian expands to worldwide cargo. Cut-price carrier’s freight arm will capitalise on its 120-destination plus network potential. Bold air industry player Norwegian says it has started up its own cargo company to exploit capacity on its long-haul routes. The new company, Norwegian Cargo AS, aims to do this by recruiting more affiliates, it says.

norwegian, finnairsale



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Norwegian expands to worldwide cargo

Published on Monday, 22nd April, 2013 at 14:19 under the news category, by Michael Sandelson   .

Cut-price carrier’s freight arm will capitalise on its 120-destination plus network potential.

A Norwegian plane
A Norwegian plane
Photo: Mariusz Basiak AG/Norwegian


Bold air industry player Norwegian says it has started up its own cargo company to exploit capacity on its long-haul routes.

The new company, Norwegian Cargo AS, aims to do this by recruiting more affiliates, it says.

According to the firm, it will administer the various international markets via agreements with a network of General Sales Agents (GSA) worldwide.

“Norwegian’s continual growth and commencement of flights to the US and Thailand means it’s now appropriate to establish a separate unit within the Group,” Bjørn Erik Barman-Jenssen, Norwegian ground services manager declares in a statement.

Currently, Norwegian chiefly only carries freight between the Scandinavian countries.

The new move means Norwegian Cargo AS will handle the internal Nordic market itself.

This gives increased possibility of several direct contracts, the company adds.

In other news, airline Finnair says it has sold its 4.7 per cent stake in Norwegian for some EUR 53 million (about USD 69.1 million/GBP 45.4 million/NOK 403.2 million), Monday.

The Finnish airline obtained the shares due its sale of its Swedish subsidiary FlyNordic to Norwegian.

Norwegian transferred these to Finnair as part of the deal.

The 1,649,862 shares were each valued at NOK 247 (roughly USD 42.3/GBP 27.8/EUR 32.4), Oslo Stock Exchange (OSE) reported.

According to a Finnair PLC-released statement, the airline’s capital gain for the transaction totalled approximately EUR 34 million (about USD 44.3 million/GBP 29.1 million/NOK 258.7 million).

It will be recorded as financial income in Finnair's second quarter 2013 accounts.




Published on Monday, 22nd April, 2013 at 14:19 under the news category, by Michael Sandelson   .

This post has the following tags: norwegian, finnairsale.





  
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