FINLAND. Finnair has completed the sale of its Finnair Travel Retail operations at Helsinki Airport to World Duty Free Group. The moved was announced on 7 August and the deal closed on 1 October.
The airline said: “The transaction is part of Finnair’s restructuring programme in which Finnair aims to focus on its core airline business. It has a positive impact of approximately €13 million on Finnair’s 2014 result before taxes.” Some 58 of Finnair Travel Retail’s employees have transferred to World Duty Free Helsinki Ltd.
The deal gives World Duty Free Group exclusivity over duty free at Helsinki after it won the tender for space previously operated by the airport company last year. These stores are being renovated and will open under new designs and branding in early 2015.
Finnair Travel Retail’s business included stores in Departures and Arrivals at Helsinki Airport. The deal does not include inflight and pre-order sales on Finnair flights. In August the airline struck a deal with Gebr. Heinemann for inflight and pre-order sales and procurement.
