Finnair Oyj - Company Announcement

Finnair initiates its long-haul fleet financing

The Company has signed Memorandum of Understanding on sale and leaseback of two
Airbus 330 aircraft and two Airbus 350 aircraft 

Finnair Plc.      Stock Exchange Release      13 December 2013 9:45 a.m. EET



Finnair has signed a Memorandum of Understanding with global aircraft leasing
and financing company GECAS (GE Capital Aviation Services) on the sale and
leaseback of two Airbus 330 aircraft and two ordered Airbus 350 aircraft. The
value of the arrangement is approximately EUR 320 million. 

  The financial arrangement is a part of the long-haul fleet renewal program,
in which the current Airbus 330 and 340 fleet will be replaced by the new
generation of Airbus 350 aircraft. The divestment of the existing A330 and A340
fleet as a whole is not expected to have a significant impact on earnings in
2014 and 2015. 

  The sale and leaseback agreements for the two A330 aircraft are expected to
be concluded in the first half of 2014 and for the two A350 aircraft in H2
2015, when the first two A350s ordered by Finnair are delivered. The lease term
for all four aircraft is 12 years on average and the lease terms have extension
options. 

  The proceeds from the arrangement will be used to finance Finnair's future
fleet investments. Finnair has ordered eleven A350s and has options for eight
additional aircraft. 



Finnair Plc.
Communications


Further information:

Finnair Media Desk tel. +358 9 818 4020, comms(a)finnair.fi



Distribution:

NASDAQ OMX Helsinki
Principal media