New Managing Director for Finnair Aircraft Finance

Finnair Aircraft Finance today named Mr Colin Molloy, B.A. as Managing Director. He has worked for the Finnair Plc since 1974 in various functions including sales of technical services and buying and selling of aircraft. He replaces Mr Petri Pentti who has transferred to Fortum Oil Corporation as CFO.

In line with its expanding operations, Finnair incorporated a Finnish aircraft financing company Finnair Aircraft Finance Ltd in December 2003. The financing, management and lease activities of the Finnair Plc fleet were moved to the new company. The turnover of the fleet's leasing activities in the financial year 2004 is expected to be 190 million euros and balance sheet total of approximately 730 million euros.

Finnair Aircraft Finance manages Finnair Group's aircraft, engine and leasing activities which cover aircraft and engines as well as related systems and equipment, owned by the company itself and outside leasing companies. Finnair Aircraft Finance customers are the Group's domestic and foreign business units as well as external customers. The company comprises part of Finnair Groups Scheduled Traffic business area.