Finnair Oyj - Company Announcement

Finnair receives warning for inadequate reporting on management remuneration

Finnair Plc. Stock Exchange Release 14 June 2012 at 12:10 EET



The Disciplinary Committee of NASDAQ OMX Helsinki Oy has today imposed a
warning to Finnair Plc for neglecting its reporting obligations required by the
Finnish Corporate Governance Code and concerning the management remuneration.
The Committee has among other things stated that Finnair has not complied with
the Code, which forms a part of the Rules of the Stock Exchange, when failing
to report the principles and decision making process for management's special
bonuses in 2009 - 2011. The Committee also sees that Finnair has neglected its
reporting obligations when not disclosing the recruitment fee paid to CEO Mika
Vehviläinen in 2009, i.e. prior to commencement of his service contract. Full
reasoning of the Disciplinary Committee's decision can be found in the
published decision. 

 Finnair has reported management's special bonuses on a payment basis in its
Remunerations Statement for 2011, as the Company has earlier interpreted the
reporting demands of the Governance Code differently and paralleled
management's special bonuses with salaries, not with a separate incentive
scheme. The recruitment fee paid to the CEO was reported in 2009 in personnel
costs. 

 Finnair will familiarize itself with the reasoning of the Disciplinary
Committee and will in future report remunerations in line with the Committee's
interpretation. Finnair aims at more open communication towards all its
stakeholders, and has renewed its Disclosure Policy earlier in spring. 



Finnair Plc.
Communications
14 June 2012



Further information:
Mari Reponen, IR and Financial Communications Director, tel. +358 9 818 4054