Finnair Plc Stock Exchange Release 6 March 2009 at 1.30 pm On 2 March 2009, Finnair Technical Services and Iberia Maintenance signed a component support agreement, which arose as the result of a letter of intent entered into in January. The broad letter of intent covers reciprocal use of services in aircraft maintenance activity. The component support agreement is the first actual agreement based on the letter of intent. Under the component support agreement, Iberia Maintenance will provide spare components and related repair services for Finnair's Airbus A330 and Airbus A340 aircraft. Correspondingly, Iberia will commission Finnair Technical to conduct Airbus A320 aircraft component repairs as well as CFM-56B engine repairs. The seven-year component support agreement is expected to generate around 30 million euros in turnover. The agreement is also expected to create around 100 man working years for Finnair Technical services during the seven-year period. “Through this partnership, Finnair Technical Services can increase the volume of its core maintenance services and therefore improve its capacity utilisation and profitability. Furthermore, we will be able to offer the Finnair Group's external customers a wider product range with the assistance of Iberia Maintenance,” says SVP Technical Services Kimmo Soini. Work under the agreement will begin in April, when Iberia sends an Airbus A320 aircraft to Finnair Technical Services for heavy maintenance. Finnair Plc Communications 6 March 2009 Further information: Tuomo Karhumäki, VP Technical, Finnair Technical Services, tel. +358 40 531 2341
Finnair Technical Services and Iberia Maintenance sign seven-year cooperation agreement
| Source: Finnair Oyj