FINNAIR'S FLEET RENEWAL CONTINUES

Three Airbus aircraft to be acquired under operating lease. The next three A320 aircraft to be acquired for Finnair's Scheduled Traffic will be delivered in accordance with the planned acquisition program in the first quarter of 2002. At the present time Finnair operates twelve A320 family aircraft.

Of the aircraft to be acquired by the end of March 2002 two will be sold to US based Boullioun Aviation Services, Inc. and one to Singapore Aircraft Leasing Enterprise (S.A.L.E.). Finnair will lease the aircraft back on long term leases. The two acquiring companies currently own and manage a total of 107 jet aircraft.

This competitive funding solution made in the light of the difficult market conditions caused by the events of September follows Finnair's strategy of continuing to acquire new A320 aircraft utilizing long term operating leases.

Finnair does not intend to exercise any of the remaining purchase options it holds for A320 family aircraft. The utilization of operating leasing provides Finnair with significant additional financial flexibility and reduces future capital requirements.

In the long run the use of operating leasing also gives more flexibility in controlling capacity. Finnair's fleet renewal objectives continue to be to reduce the number of types in the fleet at the same time as reducing operating costs and improving service quality.