Finnair Technical Services and Iberia Maintenance sign seven-year cooperation agreement

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