Eastern European Markets
January, the 2nd, 2008

A significant maintenance contract
for Finnair Technical Services from Aeroflot Cargo

Finnair Technical Services and Russia-based Aeroflot Cargo have signed an agreement covering maintenance services for Boeing MD-11 cargo aircraft until 2016. The service agreement covers airframe, engine and component overhaul and maintenance. The first maintenance under the contract will be completed at the beginning of 2008.

"The agreement is a natural continuation of the cooperation in wide-body aircraft maintenance we launched with Aeroflot Group in 2004. It strengthens our position as an MD-11 wide-body aircraft maintenance unit in Europe. Aeroflot Cargo's decision is a clear indication of Finnair's competitiveness on world-wide aircraft maintenance markets," says SVP Finnair Technical Services Kimmo Soini.

The value of the agreement is estimated at over 200 million euros over a period of eight years. The agreement is one of the largest in the history of Finnair Technical Services. Aeroflot Cargo is the biggest single customer for Finnair Technical Services outside Finnair Group. Finnair Technical Services' annual turnover is over 200 million euros, of which approximately 25 per cent comes from customers outside Finnair Group.

"The increasing cooperation increases our outside turnover. Due to Finnair's fleet modernisation, the share of work coming from inside the Group will decrease in coming years. Thanks to the new agreement, we can make use of our resources and know-how even more efficiently than before," Soini continues.

Finnair will retire its Boeing MD-11 passenger aircraft fleet by spring 2010. Five of the seven aircraft are leased. The end of the lease agreements coincides with the delivery of new Airbus A330 aircraft. Two of the MD-11s have been previously sold to Aeroflot Cargo. The aircraft will be handed over at the end of this year and the beginning of next year.

Aeroflot Cargo is owned by Aeroflot and operates scheduled cargo traffic to, among other destinations, Finland, Germany Japan and China. The number of Boeing MD-11s in the operated by the company will increase to at least six next year, when Finnair's two MD-11s will be turned over to Aeroflot Cargo. In addition, the company also operates DC-10 aircraft which are also serviced by Finnair Technical Services.

Further information:
Additional information: Kimmo Soini
Senior Vice President, Finnair Technical Services, tel. +358 9 8186435

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