Finnair Group sells airport retail operation

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Finnair Group subsidiary Finnair Travel Retail is to sell its Helsinki Vantaa airport shops to the World Duty Free Group.

While Finnair has not disclosed the value of the transaction it says the sale, which will close in the fourth quarter of this year, will positively affect the carrier's pre-tax results by €13 million ($17 million).

Finnair has been trying to stabilise its finances and concentrate on its core activities through a restructuring programme.

World Duty Free Group agreed last year with Finnish airports operator Finavia to run 11 shops at Helsinki.

Finnair chief commercial officer Allister Paterson says the sale will offer a "good home" for the 60 employees being transferred under the new ownership.