NORWEGIAN /OSM
It just gets worse. From Flight Global.
Norwegian to buy half of recruitment firm OSM Aviation
16 Dec 2015 14:16 GMT+01:00(London)Oliver Clark
Norwegian has signed an agreement to acquire a 50% stake in crew recruitment firm OSM Aviation.
Under the deal OSM Aviation will take a 49% share in the Oslo-based carrier’s own recruitment business in Spain, Finland and the UK as of June 30, 2016 which come under the umbrella company of Norwegian Air Resources.
The agreement is subject to approval under the European Commission’s merger regulations and the parties expect the transaction to close by the end of the first quarter of 2016. The remaining 50% of shares in OSM Aviation will continue to be held by a group of Scandinavian investors.
OSM Aviation employs more than 1,000 Norwegian crew members in Sweden, Finland, UK, Spain and the USA and says the agreement will not affect their conditions of employment. It also employs crew at airlines such as Finnair.