1. Finnair Group Financial year April 1 - December 31, 2000

2. FROM CRISIS TO GROWTH 1999: The moment of truth 2000: Adaptation and investment for the future 2001: Introduction of new structures 2002: Accelerating growth

3. We doubled our results 1. Profitability: Profit before extraordinary items rose 103 % (125,1 MEUR) 2. Yield: Yield continued up (8,1% per RPK), successful elimination of loss making routes 3. Costs: Operating costs (excl. fuel) decreased 1,1% 4. Efficiency: World´s most efficient use of B757 fleet 5. Staff: New incentive schemes, 3,3 % productivity increase, 4,8 % less staff 6. Transparency: Quarterly reporting since Q1/1999, new Group structure January 1, 2001

4. Focus on superior quality 1. Quality: Most punctual (AEA) and best customer service (SoFie/IATA) 2. Service: Best service brand in Finland (Markkinointi & Mainonta) and once again best ”Cellar in the sky” (Business Traveller) 3. Focus on strong brands –New Finnair corporate image –Finnmatkat sold, emphasis put on developing Suntours

5. Finnair Group key figures

6. Improved transparency The financial year will match the calendar year from 2001 Key economical figures for 2000 are shown as pro forma From the beginning of 2001 the financial reporting will be based on the new Group structure with six business areas in order to promote clarity and improve transparency

7. Steady turnover growth

8. EBIT over EUR 100 million

9. Profit doubled Profit before extraordinary items and taxes

10. Strong cash flow from operations MEUR % of turnover %

11. Return on Capital Employed % Year 2000 WACC 8 %

12. Return on Equity %

13. Improved results with less personnel Group personnel on average

14. Productivity improvement ATK (1000) / person

15. Investing in first class equipment

16. Net debt decreased

17. Finnair has a strong balance sheet Equity ratio

18. Improved Gearing

19. Cash earnings per share EUR

20. Finnair’s dividend policy “It is Finnair’s dividend policy to pay out at least a third of the earnings per share as dividend during an economic cycle. We try to take into account the company’s earnings trend and outlook, financial situation and capital needs for any given period.” For the financial year 2000 a dividend of EUR 0.40 is proposed, which amounts to 38 per cent of earnings per share Effective dividend yield 8.7% (spot price EUR 4.60 March 7, 2001)

21. Competitive pay out -ratio Annual dividend MEUR % of EPS % * * Dividend proposal by the Board of Directors to the AGM is EUR 0.40/share

22. EUR Deep discount in Price to Book

23. Final quarter of the fiscal year 1.10.-31.12.2000 Strong development in yield continued –Revenue from flight operations/RTK + 5.8% –Revenue from flight operations/RPK + 7.4% EBIT 28.6 MEUR (31.6) Capital gains 25.4 MEUR (22.8) Fuel costs up by 66.4% Because of the financial year change, final quarter EBIT includes extraordinary items as: –provisions for profit bonus and incentive schemes –provisions for aircraft maintenance costs –revenue from unused flight documents Net impact from these and other items totals -12 MEUR

24. Yield and Unit cost development Change to previous year 1999 2000 %

25. MEUR 19981999 EBIT per Quarter 2000

26. MEUR 19981999 EBIT per Quarter Change to previous year, excluding capital gains 2000 Change excl. exceptional items due to change of fiscal year. These items include provisions for profit bonus and incentive schemes and for aircraft maintenance costs, revenue from unused flight tickets * *

27. Finnair Group New management structure 1.1.2001 Business divisions consists of more independent business units and subsidiaries in order to improve transparency and allow for more flexible and efficient operations in a shifting competitive environment Each business unti will have its own business strategy, management team and its own remuneration principles Responsibility for capital employed and for the return on it

28. Profitable growth in 2001 Growth with existing resources Benefit from more integrated alliance co- operation Efficiency with the new management structure Agreements with all labour unions Improved working atmosphere and internal communication Modernisation of fleet with Airbus A320 family eFinnair

29. Online -sales growth scenario Year 2000 total online -sales approx. 60.000 passengers Year 2001 forecasts between 175.000 – 300.000

30. Confident future Underlying profitability expected to improve further Capacity growth 1-2 % (ATKs) Investments approx. 275 MEUR, fleet renewal continues New growth from Asia –Fourth MD-11 aircraft on scheduled passenger traffic 2002 (Hongkong new destination) –Substituted by two leased B757 aircraft on leisure traffic

31. Challenges this year Consolidation of Group structure Capacity utilization still low Fuel prices Aero and domestic feeder traffic Preparedness for accelerating growth 2002

32. Appendices

33. Development index of jet fuel in 2000

34. Changes in Passenger Traffic & Capacity TOTAL TRAFFIC -15 -10 -5 0 5 10 15 20 25 apr jun aug oct dec feb apr jun aug oct dec feb apr jun aug oct dec % Traffic - Revenue Passenger-Km Capacity - Available Seat-Km 1999 1998 2000

35. Number of passengers

36. Distribution of scheduled traffic revenues 2000

37. Distribution of passenger sales in scheduled traffic 2000

38. Revenue tonne kilometres

39. Strong cargo volume growth

40. Distribution of cargo kilos 2000

41. Steady increase in technical sales Excludes revenue from the maintenance of Finnair operated aircraft