On February 19, 2021, Finland’s flag-carrier Finnair announced the plans to rebuy its own shares.
“Finnair has decided to commence acquiring the company’s own shares on the basis of the authorisation given by the Annual General Meeting held on 29 May 2020,” was written in the statement of Finnair.
The Finnish airline plans to repurchase a total of 1.8 million shares, which corresponds to 0,13% of a total number of the airline’s shares. For repurchasing, Finnair allocated a sum of €1.8 million ($2.2 million).
“Acquired shares will be used primarily for implementation of Finnair’s Employee Share Savings Plan and long-term share-based incentive scheme for key personnel,” read Finnair statement.
The shares’ buyback would begin on February 19, 2021, and end by the last day of March 2021. The Finnair shares would be bought via public trading Nasdaq Helsinki exchange at the market price.
The airline currently holds 170,660 of its own shares, which is approximately 0,01% of the total number of company’s shares.
