Finnair Oyj - Company Announcement

Finnair Catering and white-collar staff unions conclude stabilisation agreement

FINNAIR OYJ   STOCK EXCHANGE RELEASE   OCTOBER 13, 2009 AT 13:15

Finnair Catering Oy and four white-collar staff unions have today concluded a
fixed-term stabilisation agreement. The agreement mainly covers the 2010
cost-cutting and personnel adjustment targets for Finnair Catering's
white-collar staff. The targets are part of a previously announced cost-cutting
programme. 

“Through close cooperation, we found solutions to manage a difficult situation.
Despite the difficult decisions that had to be made, the spirit of the
negotiations remained excellent throughout, and we were able to minimise the
number of redundancies by seeking personnel costs savings through other means.
The measures are not easy, but they are absolutely necessary,” says Finnair
Catering Oy's Managing Director Kristina Inkiläinen. 
The new stabilisation agreement, which runs until 31 December 2010, includes
the discontinuation of 17 white-collar jobs as well as personal cost-cutting
targets for all white-collar employees. The personal cost-cutting targets can
be achieved, for example, by giving up holiday bonuses, incentive bonuses or
evening allowances. 

Through the agreement, new redundancies of staff for production and financial
reasons will be avoided for the duration of the agreement. The agreement
contains a pay-back model based on Finnair Catering Oy's and Finnair Group's
results for 2010 and 2011 as well as an option covering the 2012 results. 
Finnair Plc
Communications
12.10.2010
Further information: Vesa Müller, Finnair's VP Labour Relations, tel. +358 40
724 5667