Liquidity risk
The goal of the Finnair Group is to maintain good liquidity. Liquidity is ensured by cash reserves, bank account limits, liquid money market investments and committed credit facilities. With respect to aircraft purchases, the company's policy is to secure financing, for example through credit facilities, at least 6 months before delivery. The Group's liquid assets were 294.3 million euros at the end of financial year 2003. Furthermore, Finnair Plc had the following unused credit facilities at the closing of the accounts: a binding USD 250 million credit limit and a domestic commercial paper programme of 100 million euros. |