FINNAIR CONTINUES NEGOTIATIONS ON FINNCOMM OWNERSHIP ARRANGEMENTS

Finnair is continuing negotiations on ownership arrangements of Finnish Commuter Airlines Oy (FCA), which practises Finncomm’s air traffic operations, and on the acquisition of the entire share stock of the airlines that own the Finncomm Group’s 12 ATR aircraft. The intention to find, in addition to Finnair, external investors in FCA.

A preliminary agreement relating to the arrangements was announced on 9 September 2010, at which time it was assumed that any possible arrangements would be finalised by the end of the year. According to a new estimate, any possible arrangements may be finalised during the first quarter of 2011. Additional time for the negotiations is required to enable, among other things, any possible external investors to make a due diligence audit of FCA.

Commercial cooperation between Finnair and Finncomm continues normally.

Finnair Plc
Communications

Taneli Hassinen
Vice President, Financial Communications and Investor Relations
tel. +358 9 818 4976