US-based private equity firm Neff Capital Management has set up a Finland-based cargo air transport company with minority backing from local airline Finnair.
The launch of Nordic Global Airlines, an all-cargo airline, is expected later this year. Ilmarinen Mutual Pension Insurance Company is the other minority investor in Nordic Global Airlines alongside Finnair Cargo, a subsidiary of the Finnish national carrier, Finnair.
Brian Neff, president of Neff Capital and former president of Southern Air, said: "Helsinki is a natural base for a wide-body freighter operation, given its proximity to Asia and location among the growing economies of Europe."