Finnair sells Two Boeing MD-11 aircraft

Finnair is selling the last two Boeing MD-11 aircraft in its ownership to Russian airline Aeroflot. The aircraft which are currently serving in Finnair’s long-haul traffic will be transferred to the new owner in November 2008 and July 2009. The value of the sale is several tens of millions of euros.

Finnair operates altogether seven MD-11 aircraft, five of which have leasing agreements ending in the next few years. Finnair is retiring the aircraft type by the end of 2010 after which the long-haul fleet will consist of Airbus A330 and A340 aircraft exclusively.

“There is great demand for MD-11 aircraft in the market now, so the time of the sale was fortunate. We have timed the sale as well as the end of the leases of the MD-11s with the orders of new Airbus. We will move to a new type of aircraft in our long-haul seamlessly and at a quickened pace. The new aircraft significantly improve fuel and eco-efficiency as well as the passenger comfort,” said Finnair CFO Lasse Heinonen.

Finnair has orders for four new Airbus A340 aircraft, the first of which will arrive already at the end of May. In 2009-10 the long-haul fleet will grow with a further six new A340s or A330s. In addition Finnair has four options for Airbus wide body aircraft. In 2014-16 part of the long-haul fleet will be renewed with new technology Airbus A350XWB aircraft, 11 of which are on order with a further four options.

Finnair’s long-haul network will have ten Asian destinations in the coming summer, six of which will be operated daily. Finnair’s Asian traffic is expected to grow by over 30% this year.

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