Norwegian Air Resources Holding (NARH) and OSM Aviation have signed an agreement to form a stronger global partnership in employment and management of aviation crew.
The new partnership – where NARH acquires 50 percent of OSM Aviation – will build on the experiences of Norwegian’s and OSM Aviation’s established relationship offering professional employment and good career opportunities.
OSM Aviation offers permanent employment and competitive working conditions for current and future employees. Through OSM Aviation, Norwegian will also secure local expertise when expanding globally. OSM Aviation currently employs more than 1,000 Norwegian crew members in Sweden, Finland, UK, Spain and the US. OSM Aviation is offering recruitment, training, crew management and in-flight services to several international customers. NARH is a fully owned subsidiary of Norwegian. The conditions of employment for pilots and cabin crew remain unchanged.
“By joining forces, OSM Aviation will become one of the world’s leading companies for employment and management of crew in global aviation. For more than two years we have had a fruitful and professional relationship with OSM Aviation. Together we will build an even stronger global presence and competitiveness for further expansion in new markets,” said CEO of NARH, Krister Aarnio.
“This is an important milestone for us. Through this partnership we will further strengthen our global position as a leading and an attractive employer and a professional provider of quality, competence and human resources to our customers,” said CEO of OSM Aviation, Espen Høiby.
The new partnership is formed by NARH acquiring a 50 percent stake in OSM Aviation.The joint company will furthermore acquire a 49 per cent stake in Norwegian’s companies in Spain, Finland and the UK as of June 30, 2016. The local companies are subsidiaries of NARH, which will retain the majority ownership in these companies.
The closing of the agreement is subject to The European Commission approval under the EU Merger Regulation. The transaction is expected to close by the end of Q1 2016.