Finnair to Build New Cargo Terminal

Regulatory News:

Finnair Plc (HEX:FIA1S) Stock Exchange Release 25 March 2015 at 15:25 EET

Finnair Board of Directors has approved an approximately 80 million euro investment in a brand new cargo terminal to be built at Helsinki Airport.

The construction work of the new 35,000 m2 terminal will start in March 2015. The capacity of the new terminal has been planned according to the increasing cargo capacity offered by the Airbus A350 XWB fleet, and it will include special cargo handling areas for pharmaceutical and life science products (Pharma) as well as perishable products, including fish and seafood. The new state-of-the-art terminal will have high level of warehouse automation to ensure high quality air freight service and competitive handling cost. The terminal’s location was defined to optimize the ground transport from cargo terminal to wide-body aircraft stands at Helsinki Airport, and is planned to be opened during spring 2017 near Finnair Technical Operations area (future address Turbiinitie). Finnair cargo operations will continue in Rahtitie 1 until spring 2017, when they are transferred to the new cargo terminal.

The new cargo terminal is the second largest investment at Finnair currently, following the acquisition of the new A350 aircraft. Decisions on the final ownership structure of the new terminal will be made after the construction of the new facility has been completed.

"Cargo revenue is an integral revenue source for Finnair, with on average more than 17 % of intercontinental revenue coming from cargo. Over 80% of shipments transported by Finnair Cargo are transit freight and the new Airbus A350 XWB fleet will bring approximately 50% more cargo capacity by year 2020. The new, modern cargo terminal enables the smooth handling of growing cargo flows in future”, says Finnair’s Chief Commercial Officer Juha Järvinen.

Finnair Plc

Distribution:

Nasdaq Helsinki

Principal media

This information was brought to you by Cision http://news.cision.com