Finnair (AY, Helsinki Vantaa) says it has agreed to sell its Finnish business travel agency, SMT Oy, to American Express Global Business Travel (GBT) as part of the ongoing disposal of non-core assets.
"The Finnair Group decided to divest SMT now after its successful business turnaround and due to Finnair’s strategic target to focus on its core airline business,” Juha Järvinen, Chief Commercial Officer of Finnair and chairman of SMT’s Board of Directors, said.
The transaction, whose value was not disclosed, is expected to close during the third quarter of 2016.
Other subsidiaries Finnair has sold off include its Travel Retail’s shops at Helsinki Vantaa Airport as well as its Finncatering Oy LSG Lufthansa Service Europa/Afrika GmbH unit.
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