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Business ReviewFinancial ReviewInformation for shareholders

Board of Directors Report
Financial Statement Principles
Consolidated Income Statement
Consolidated Balance Sheet
Consolidated Cash Flow Statement
Finnair Oyj Income Statement
Finnair Oyj Balance Sheet
Finnair Oyj Cash Flow Statement
Notes
Shares and Shareholders
Proposal Concerning Disposal of the Profit
Statement of the Supervisory Board
Auditors Report
Key Figures 1998/99-2002
Formula for ratios

Inventories

Inventories comprise the spare parts and materials needed for aircraft repair and maintenance and stocks for customer services. Inventories were evaluated at the average acquisition cost. The value of work in progress includes average salary costs, excluding salary-related costs, used stocks of materials and supplies and subcontracting work

Current Assets

Securities entered under current assets are evaluated at the lower of original acquisition cost or market value.

Leasing

Lease payments for Group aircraft are significant. Annual lease payments are treated as rental expenses. Lease payments due in future years under aircraft lease contracts are presented as off-balance sheet items.

Extraordinary Items

Items included in extraordinary items are typically substantial and one-off by nature. They also deviate from the ordinary course of business operations. Changes in accounting principles and procedures are implemented by using extraordinary items to show the impact on earnings.