Pension Schemes

In the Group's domestic companies mandatory and other pension coverage for personnel has primarily been arranged through the Finnair pension fund and other mandatory pension coverage has been arranged through domestic insurance companies. The Finnair pension fund is a joint fund including the Parent Company and seven affiliates at the end of the financial year. Both mandatory employment pension coverage and additional pension security are arranged by the fund for the Parent Company and five affiliates. Since 1992, the pension fund has no longer accepted employees other than pilots for additional pension coverage.

The Finnair pension fund's pension liability is fully paid up with respect to basic and additional coverage. Pension fund liabilities are presented in the Notes to the Financial Statements.

The foreign affiliates pension coverage has been arranged according to local legislation and practice.

The pension agreements of the parent company's CEO and members of the Board of Management as well as those of the managing directors of subsidiaries are individual agreements, and the retirement ages under these agreements varies between 60 and 65 years.

Comparability of Financial Years

Specific division-related turnover items have been converted according to the gross principle.