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Finnair sub-leases four Embraer 170 aircraft to Estonian Air

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Goose Posted: Fri, Feb 3 2012 9:28 AM

Finnair continues to optimize its narrow body fleet and has signed an agreement on the sublease of four Embraer 170 aircraft to Estonian Air. The sublease opportunity is in part made possible by Finnair’s continued work on network optimization and rationalization, and the company achieves considerable savings with this agreement. Fleet optimization is a part of Finnair’s savings program that targets annual savings of 140 million euros.


The sublease periods begin in the first quarter of 2012 and end during 2015. Finnair operates its narrow-body fleet in its domestic and European network.

Finnair announced on August 5, 2011 that it targeted decreases in its annual costs of 140 million euros by 2014. Finnair has already announced that it:

- optimizes its narrow body fleet by discontinuing the lease agreements of four Airbus A320 Series aircraft
- has transferred baggage and apron services to Swissport
- is evaluating the optimum size of its fleet in European air traffic
- has begun analyses of different alternatives to improve cost-efficiency of maintenance service
- continues to investigate partnership opportunities for catering production and Finncatering
- is streamlining its support functions and marketing and distribution activities
- has initiated, and is initiating, numerous smaller savings measures throughout the company.

 

" The most important thing in life is to look into the future and not dwell in the past"
 
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