Finnair (AY, Helsinki Vantaa) says it has signed a Letter of Intent (LOI) with Finnish firms StaffPoint Holding Ltd and G.W. Sohlberg Ltd. in which the two firms will acquire flybe. (2002)'s 60% shareholding in flybe. Nordic (Helsinki Vantaa) for the sum of EUR1 (USD1.18).

Once Finnish regulatory approval has been secured and the sale is completed, StaffPoint will become majority shareholder with 45%, Finnair 40%, and GWS 15%.

GWS is a family-owned holding company among whose subsidiaries is StaffPoint, a human resources-oriented firm.

Flybe. last November said the subsidiary's sustained weak revenue inflows brought on by a declining domestic Finnish passenger market had forced it to withdraw from the project.

Though Flybe. Nordic is expected to impact its finances by as much as EUR35million (USD41.65million), Finnair says it is prepared to extend working capital to Flybe Nordic to finance the restructuring of its operations with the long term goal of turning it into a profitable venture.