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2010-10-13 08:00:00 CEST 2010-10-13 08:00:04 CEST REGULATED INFORMATION Finnair Oyj - Company AnnouncementFINNAIR GROUP TRAVEL AGENCIES' LEISURE TRAVEL OPERATIONS TO MERGEFINNAIR PLC STOCK EXCHANGE RELEASE 13.10.2010 AT 9:00 The leisure travel services of the travel agency companies Matkatoimisto Area and Finland Travel Bureau (FTB) are planned to be merged into Aurinkomatkat-Suntours as a distinct Independent Travel business area. After the merger, Aurinkomatkat would have, in euro terms, around 40% share of Finland's package tour market and a third of entire leisure travel market. The range of products and services would in future include flight tickets, flight and hotel packages, package tours, tailored itineraries, theme tours, cruises and spa holidays, and also group travel. On completion, the merger will improve customer service and thereby achieve significant synergy benefits. Aurinkomatkat and FTB sales offices can be merged and telephone services arranged into joint service centres. Expertise can be combined in internet customer support, content development, technology, production and support functions. The planned change will involve statutory employer-employee (YT) negotiations under the Act on Cooperation Within Undertakings in Aurinkomatkat's Finnish operations and in travel agencies' leisure travel functions, which employ a total of around 250 people. The intention is to implement the transfer of business and complete YT negotiations by the end of the year. Personnel will transfer to the service of Aurinkomatkat under their existing terms of employment. The total turnover of the Aurinkomatkat Group and Area's and FTB's leisure operations is approximately EUR 300 million. They employ around 470 people, of whom more than 200 work abroad. Finnair Plc Communications Taneli Hassinen VP, Financial Communications and Investor Relations tel. +358 9 818 4976 taneli.hassinen@finnair.com Further information: Managing Director Jukka Salama, Aurinkomatkat-Suntours, tel. +358 50 390 3030 Commercial Director Tuomo Meretniemi, Aurinkomatkat-Suntours, tel. +358 50 390 3050 |
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