Finnair Plc          Stock Exchange Release           23 March 2026 at 9:00 a.m. EET

Finnair is proceeding with the renewal of its narrowbody fleet and has signed a purchase agreement with Embraer on 18 firm orders for E195-E2 aircraft, with additional 16 options, and 12 purchase rights. Finnair has also signed agreements with RTX's Pratt & Whitney for the purchase of spare engines and maintenance services for the PW1900G GTF engines that power Embraer E2.

In addition, Finnair plans to acquire up to twelve Airbus A320/321ceos from the used aircraft market.

"This mix of new and used aircraft supports our growth and profitability targets in an optimal way, as we continue to implement our strategy," says Turkka Kuusisto, Finnair CEO. "With this investment, we are well positioned to offer our customers a growing, attractive network, as well as excellent reliability and customer experience. Introduction of the new E195-E2 aircraft to our fleet also reduces our CO₂ footprint, advancing our climate targets," Kuusisto says.

First E195-E2 aircraft to join Finnair fleet in 2027

"The Embraer E195-E2 is a great match for our needs, enabling a stronger regional network that both strengthens connectivity to and from Finland, and efficiently feeds our long-haul network", says Kuusisto.

Deliveries of the 134-seat Embraer E195-E2 aircraft are scheduled to commence in the third quarter of 2027, with three of the firm orders to be delivered in 2027, six to be delivered in 2028 and another six in 2029. The E195-E2s are planned to be operated by Finnair's partner Norra. Norra operates regional traffic for Finnair with Embraer and ATR aircraft.   

"Embraer is honoured to support Finnair's exciting next chapter," said Arjan Meijer, President & CEO, Embraer Commercial Aviation. "The E195-E2's unique combination of efficiency, comfort, and reliability delivers meaningful value - lower fuel burn, lower CO₂, and superior economics. We look forward to helping Finnair modernise its short-haul fleet to better match demand, reduce emissions, and unlock growth."

Selected for its efficiency, reliability and passenger comfort, the E195-E2 provides over 30% fuel efficiency per seat, in comparison to the previous generation E190-E1 aircraft, and a significant reduction in external noise footprint. The E195-E2 also provides a next generation customer experience, with the quietest cabin in the single-aisle segment, modern, comfortable seats, USB charging in each seat, and high-speed internet connectivity.

A320/321ceos to replace retiring A319s and A320s

Finnair plans to source up to twelve A320/321ceos from the used aircraft market, to replace the oldest A319s and A320s in the Finnair fleet during the next few years.

"A mix of larger and smaller narrow-bodies allows us to tap into the growth opportunities in our markets in a flexible and efficient manner," says Kuusisto. The exact number of the planned A320/321ceos and their delivery times will be specified as preparations proceed.    

Finnair's current fleet comprises 79 Airbus, Embraer and ATR aircraft. The fleet operated and owned by Finnair is presented on the company's website at finnair.com.

Seabury Aviation Partners acted as the strategic and commercial advisor to Finnair in connection with the transaction.

Investor webcast on 23 March 2026

More detailed information on the fleet renewal will be provided at an English-language telephone conference and webcast on Monday, 23 March 2026 starting at 3:00 p.m. Finnish time. To access the telephone conference, kindly register at https://events.inderes.com/finnairgroup/2026-03-23/dial-in. After the registration, you will be provided with phone numbers and a conference ID. To join the live webcast, please register at https://finnairgroup.events.inderes.com/2026-03-23. A recording will be available after the event.