LOSS-MAKING airline Flybe pressed ahead with expansion plans as it entered in to a joint venture to buy a Finnish airline for £22.6m.
Flybe, which reported a £4.3m loss in its maiden annual results earlier this week, is buying Finnish Commuter Airlines in partnership with Finnair, Finland’s flag carrier.
Flybe will take a 60% stake in the joint venture, to be known as Flybe Nordic, while Finnair will hold the remaining 40%.
FCA flies about 900,000 passengers a year in the Finnish domestic, Nordic and Baltic regional markets. It has 15 aircraft and an annual turnover of about £81m..
Flybe expects to make pre-tax profits of about £22m in the current financial year.