Saturday, 20 February 2021

Finnair buying back its own shares.

Helsinki based Finnair is in the middle of a huge programme to buy back its own shares to further solidify the companies assets, structures and financial position. 

Part of the buyback is to give senior managers and board members another perk, following the board's decision at a recent meeting to give them a pay increase, despite making record numbers of other staff redundant over the last two years.

The firm says it plans to buy 1,800,000, corresponding to 0.13% of the total number of shares and has budgeted EUR 1.8 million. Finnair currently holds a total of 170,660 of its own shares.   The shares shall be acquired through public trading on the Nasdaq Helsinki exchange at the market price prevailing at the time of purchase. The plan for this round will be concluded by the last day of March 2021, at the latest. However, there are plans to have another round of buying back its own shares later this year.

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