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2007-10-15 16:02:52 CEST 2007-10-15 16:02:52 CEST REGULATED INFORMATION Finnair Oyj - Company AnnouncementFINNAIR'S VISION 2017: MOST DESIRABLE INTERCONTINENTAL AIRLINE IN THE NORTHERN HEMISPHEREFinnair has approved the company's new long-term vision according to which Finnair aims to become the airline of choice for quality and environmentally conscious air travellers in intercontinental travel in the Northern Hemisphere. For its shareholders, Finnair aims to be an attractive investment. Finnair will pursue its growth strategy based on increasing demand in traffic between Europe and Asia, and in the future, also in the traffic between North America and Asia. Finnair will pursue its growth strategy by developing its network and the quality of its operations, based on an efficient cost base. Finnair's network will be able to benefit from the expansion of Helsinki-Vantaa Airport and its ideal location along a significant number of long haul flight paths. In addition, Finnair's and Finland's image represent strengths in a changing global environment. “We want to be a reliable and safe alternative in an uncertain world. We will take advantage of Helsinki's geographical location even more extensively. In years to come, the airspace and terminal facilities of large European airports are likely to become increasingly congested while Helsinki-Vantaa Airport has plenty of room for construction and possibilities for development,” says Finnair President and CEO Jukka Hienonen. Finnair began to renew its intercontinental network in 2001 when three wide-body aircraft were used in the scheduled traffic. With the present fleet programme, the Finnair intercontinental fleet can by 2017 grow by over 20 wide-body aircraft. Finnair's total passenger number is expected to increase from the current nine million up to over 20 million. “If the demand in air traffic continues to increase, within ten years we expect to carry well over three million passengers annually in our intercontinental traffic between Europe, Asia and North America.” Finnair's position will strengthen in Asian traffic Finnair's primary core business is scheduled passenger traffic, between Europe and Asia in particular, since the shortest routes for a large number of Europe-Asia city pairs go through Finnish airspace. In recent years, the Asia-Europe market has grown at a rate of approximately six per cent per year. Finnair's annual growth has been in excess of twenty per cent, delivering consistent market share gains in Europe-Asia traffic. “The significance of Asian airlines in intercontinental traffic is growing and airline sector consolidation continues. For Finnair, the most interesting future cooperation candidates are to be found among the Asian oneworld airline partners with high quality service, which provide us with the opportunity to increase our market share even further in the Asian market. The main goals for Finnair are improved connections and customer service while increasing value for shareholders,” Hienonen continues. Finnair's other core business area is leisure traffic. The aim is to expand tour operations and leisure flights from the home market to the Baltic Sea area, specifically Russia and the Baltic States. “The thriving Russian middle class is increasingly travelling abroad. It makes sense to enter the Russian travel market with leisure travel. We believe, however, that sooner or later Russia's air traffic market will open up to international operators. When that time comes, Finnair intends to show a strong presence and increase frequencies to Moscow and St Petersburg as well as open new routes,” Hienonen states. New connections via Helsinki The company is currently, above all else, focusing on Europe-Asia traffic and offering the fastest, most eco-efficient and most convenient connections to Asia's large hubs from those European cities which do not offer direct flights. The number of Finnair's Asian destinations and flight frequencies as well as European connections will increase further in the future. The weekly number of Finnair's Asian flights has increased since 2001 from nine to 59. In addition, twelve weekly leisure flights are heading for destinations in Asia. “Together with the airport owner Finavia we want to develop Helsinki-Vantaa Airport into a concept in air travel. The “Via Helsinki” concept means that changing flights at Helsinki-Vantaa is not only uncomplicated with functioning basic services, but the airport environment with its novel services will form into a unique experience as a part of business and leisure travel as a whole,” explains Hienonen. Finnair's Indian traffic, which has got off to a good start, makes it possible to open the fastest connections between North America and India, because Finland is situated along the shortest route. Demand between the two continents is expected to grow significantly. Changing aircraft in Helsinki divides the trip into pleasant sections and offers Helsinki-Vantaa Airport's vast services. In addition, splitting an over 14 hour flight into two halves burdens the environment less than a non-stop flight. The expected opening up of the Russian air travel market in the future will offer new opportunities to complement the network. Sustainable development requires constant investments Finnair wants to be a responsible world citizen that takes the environment into consideration in everything it does. Finnair is supporting the International Air Transport Association IATA's target towards zero emissions air transport. Decreasing the environmental burden of the industry enables further growth of air travel in the future. “Decreasing the environmental burden and staying in the race requires constant investments in the newest technology. Cost structure must also be competitive. Only the economically strongest airlines will be able to do this,” outlines Hienonen. Finnair has been systematically renewing its fleet since 1999. The airline's European fleet is one of the most modern on the continent. The long-haul fleet renewal begun this year will modernise the intercontinental fleet by the end of the decade and increase its size further. The middle of the next decade will see the launch of the next wave of investments when next generation, eco-efficient twin-engine long-haul aircraft will join the Finnair fleet. “Customers can already now make environmentally friendly decisions. The cornerstones of Finnair's environmental operations are a modern, low-emission fleet and the shortest routes.” The Finnair brand success factors Finnair's success in the future will continue to be based on strong know-how and an attractive network. The brand values associated with Finnair include safety, freshness, creativity and Finnishness, which are positive, differentiating qualities. “Safety is a matter that we never compromise on in any circumstances. Finnishness is associated with keeping promises and being trustworthy. We encourage our personnel to come up with creative solutions in service situations. The professionalism of our staff is at the top of the air transport industry. Our modern and constantly developing fleet makes the travel environment fresh and comfortable. We want to develop Finnair into an even stronger quality airline,” Hienonen concludes. Finnair expects to recruit over 200 persons per year to meet the demand of growing traffic until the middle of the next decade. The Group structure is also being developed to meet the future operating model. "Our plan with its almost two billion euro investment and its impact on direct and indirect employment is one of the largest undertakings in Finland. In order to succeed we need to take particular care of our competitiveness and cost structure," says President and CEO Jukka Hienonen. Finnair Plc Communications 15.10.2007 |
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