Finnair drops hope of joining airline consolidation, looks to Asia

Finnair has dropped hopes of taking part in industry consolidation because politicians oppose relinquishing state control and will instead look to Asia to expand alone, its CE said. The carrier, 55.8% govt owned, has for years urged lawmakers to scrap a clause obliging the state to hold a majority stake. Former minister for state-owned firms, Heidi Hautala, failed to win support in her push for change. The current center-right govt considered the idea but dropped it and has no plans to discuss it again, two govt sources said. Finnair CE Pekka Vauramo said any plan for a tie-up was "off our table at the moment" and said the airline, with annual sales of around US$3.2b, aimed to expand on its own with a focus on Asian routes. "We will go for our growth opportunities and define our future by ourselves," he said. <br/>