FINANCIAL STATEMENTS
		Board of Directors Report
		Accounting Principles
		Consolidated Income Statement
		Consolidated Balance Sheet
		Consolidated Cash Flow Statement
		Finnair Plc Income Statement
		Finnair Plc Balance Sheet
		Finnair Plc Cash Flow Statement
		Notes to the Financial Statements
		Shares and Share Capital
		Proposal on the Dividend
		Auditors' Report
		Financial Indicators
		Turnover by Sector
		Operating Profit by Sector
		Calculation of Key Indicators

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FINANCIAL INDICATORS 1999/200-2003

		2003	2002	2001	Proforma 2000	4-12/ 2000	1999/2000
Consolidated income statement
Turnover	EUR Mill.	1 558	1 656	1 631	1 658	1 259	1 593
- change	%	-6.0	1.6	29.5	-	-20.9	6.6
EBITDA	EUR Mill.	85	175	145	232	205	165
- in relation to turnover	%	5.5	10.5	8.9	14.0	16.3	10.3
Operating profit	EUR Mill.	-19	60	13	111	122	50
- in relation to turnover	%	-1.2	3.6	0.8	6.7	9.7	3.1
Profit before extraordinary items	EUR Mill.	-22	54	9	120	125	57
- in relation to turnover	%	-1.4	3.3	0.5	7.2	9.9	3.5
Profit before taxes	EUR Mill.	-22	54	9	149	125	85
- in relation to turnover	%	-1.4	3.3	0.5	9.0	9.9	5.3
Consolidated balance sheet
Fixed assets	EUR Mill.	904	958	1 094	1 009	1 009	922
Current assets	EUR Mill.	511	522	414	530	530	474
Total assets	EUR Mill.	1 415	1 480	1 508	1 539	1 539	1 396
Shareholders equity and minority interests	EUR Mill.	621	649	618	645	645	577
Liabilities	EUR Mill.	794	831	890	894	894	819
Total liabilities	EUR Mill.	1 415	1 480	1 508	1 539	1 539	1 396
Gross capital expenditure	EUR Mill.	82	102	281	247	185	252
Gross capital expenditure in relation to turnover	%	5.3	6.2	17.2	14.9	14.7	15.8
Return on equity (ROE)	%	-2.5	5.9	1.2	13.3	14.7	5.7
Return on capital employed (ROCE)	%	0.0	7.6	2.9	15.3	15.2	9.1
Average capital employed	EUR Mill.	934	1 008	1 003	893	909	797
Increase in share capital	EUR Mill.	0	0	0	1	1	0
Dividend for the financial year 1)	EUR Mill.	8	13	6	34	34	21
Earnings/share	EUR	-0.19	0.43	0.08	0.95	1.05	0.37
Equity/share	EUR	7.24	7.58	7.22	7.54	7.54	6.74
Dividend/share1)	EUR	0.10	0.15	0.07	0.40	0.40	0.25
Dividend/earnings	%	-52.2	34.5	83.1	42.2	38.2	68.4
Effective dividend yield	%	1.89	4.0	1.9	9.0	9.0	6.4
P / CEPS		4.4	1.9	2.4	1.5	1.7	2.0
Cash flow/share	EUR	1.2	2.0	1.6	2.9	2.6	2.0
P/E ratio		-27.66	8.63	44.52	4.71	4.27	10.71
Equity ratio	%	44.4	44.3	41.3	42.2	42.2	41.7
Net debt-to-equity (Gearing)	%	-2.9	3.1	34.6	11.1	11.1	19.6
Adjusted Gearing	%	102.7	82.0	116.6	72.7	72.7	89.2
Interest bearing debt	EUR Mill.	277	322	427	316	316	281
Liquid funds	EUR Mill.	294	302	215	245	245	169
Net interest bearing debt	EUR Mill.	-18	20	212	71	71	112
- in relation to turnover	%	-1.1	1.2	13.0	4.3	5.6	7.1
Net financing income (+) / expenses (-)	EUR Mill.	-3	-6	-4	9	3	7
- in relation to turnover	%	-0.2	-0.3	-0.3	0.6	0.2	0.4
Net interest expenses	EUR Mill.	-2	-5	-4	-2	-1	-1
- in relation to turnover	%	-0.1	-0.3	-0.3	-0.1	-0.1	-0.1
Operational cash flow	EUR Mill.	82	168	138	243	180	179
Operational cash flow in relation to turnover	%	5.2	10.2	8.5	14.6	14.3	11.2
Average number of shares adjusted for the share issue		84 743 171	84 740 792	84 739 098	84 739 098	84 739 098	84 739 098
and the number of share at the end of the financial year (with diluted effect) 2)		86 048 385	85 663 479	85 663 479	85 663 479	85 663 479	85 663 479
Average number of shares adjusted		85 745 663	85 743 163	84 739 098	84 739 098	84 739 098	84 739 098
for the share issue
and the number of shares at		86 048 385	85 665 173	85 663 479	85 663 479	85 663 479	85 663 479
the end of the financial year (with diluted effect) 2)
Personnel on average		9 981	10 476	10 847	11 051	11 019	11 462

The number of personnel are averages and adjusted for part-time employees.

1) The dividend for 2003 is a proposal of the Board of Directors to the Annual General Meeting

2) In calculating the diluted figures, the impact of convertible bonds and the year 2000 share option scheme have been included. The diluted effect has been calculated by the rate of the closing day.