Finnair Oyj Finnair Oyj (FNNNF) is shaking up its fleet in a big way. The airline announced Monday it's embarking on a major narrow-body renewal, but it's not taking a one-size-fits-all approach. Instead, it's splitting its bet between shiny new jets from one manufacturer and seasoned veterans from another.
The plan has two main parts. First, Finnair signed a purchase agreement with Embraer SA (EMBJ) for 18 brand-new E195-E2 aircraft. This isn't just a simple order; it comes with options for 16 more jets and purchase rights for another 12. That's a lot of potential planes. To keep those new birds flying, Finnair also reached agreements with RTX Corp. (RTX) subsidiary Pratt & Whitney for spare engines and maintenance services for the PW1900G GTF engines that will power them.
The second part of the strategy looks to the used market. Finnair plans to acquire up to 12 Airbus SE (EADSY) A320/321ceo aircraft. Think of it as buying a reliable, pre-owned car to complement a flashy new one.
So why this mixed approach? According to Finnair's CEO Turkka Kuusisto, it's all about balancing the books and the flight plan. "This mix of new and used aircraft supports our growth and profitability targets in an optimal way, as we continue to implement our strategy," he said. "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."
New Embraer Jets: The 2027 Arrivals
The first of the new 134-seat Embraer E195-E2s won't land in Finnair's hangars until the third quarter of 2027. The delivery schedule is set for three aircraft in 2027, six in 2028, and another six in 2029. These planes won't be flying under the main Finnair banner on every route; they'll be operated by the airline's partner, Norra, specifically on regional routes.
For Finnair, these smaller jets are about building a better feeder system. "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," Kuusisto explained.
Embraer, naturally, is thrilled with the deal and happy to tout its plane's specs. "Embraer is honoured to support Finnair's exciting next chapter," said Arjan Meijer, President & CEO of Embraer Commercial Aviation. He highlighted that the E195-E2 delivers lower fuel burn, lower CO₂ emissions, and strong economics—exactly the selling points an airline looking to modernize wants to hear.
The Used Airbus Play: Replacing the Old Guard
On the other side of the strategy, the used Airbus A320/321ceo aircraft have a clear mission: to phase out Finnair's older A319 and A320 planes over time. The company says it will confirm the final number of planes and their delivery timelines later, keeping some flexibility in its back pocket.
This part of the plan gives Finnair what airlines love: options. "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," Kuusisto said.
Currently, Finnair operates a fleet of 79 aircraft from Airbus, Embraer, and ATR. This overhaul represents a significant shift in its narrow-body composition. The airline didn't navigate this complex transaction alone; it brought in Seabury Aviation Partners to act as its strategic and commercial advisor on the deal.
