All agreed loans

Finland. Finnair Oyj

Date of agreement: 27 Oct 2008
Country: Finland
Customer: Finnair Oyj
Amount in USD: USD 60 million
Amount in EUR: EUR 48.2 million
Maturity: 10 years
NACE sector / loan type: Air transport
Business area: Infrastructure, transportation and telecom

Project

The loan has been provided for financing the acquisition of an Airbus 340-300 E aircraft. This is part of a EUR 1 billion investment programme for expanding the fleet of Finland's national flag carrier by 2010 in order to strengthen its long-haul flight strategy.

Sustainability summary

The fuel consumption of the new 295-seat Airbus 340-300E airplane is 6,400 kg/h. This fuel consumption is lower both in absolute terms as well as in fuel consumption per seat than the 282-seat MD-11 (7,500 kg/h). As the new plane will not replace any old ones, but expand the number of planes in operation, the investment is seen as having negative environmental effects.