23. SHARE-BASED PAYMENTS                       The Group has two share-based incentive schemes for personnel.                       Finnair Plc's option scheme 2000                       The Annual General Meeting on 24 August 2000 approved the proposal by the Board of Directors to issue share option rights for key personnel of the Finnair Group. The share option rights are intended to form part of the incentive and commitment scheme for the personnel of the Finnair Group. The number of options rights issued is 4,000.000. Of the option rights 2,000.000 are marked with the letter A and 2,000.000 with the letter B.           The share subscription price in case of option rights A is the trade volume weighted average quotation of the Finnair Plc share on the Helsinki Exchanges between 1 July and 31 August 2000, with an addition of twenty (20) per cent, namely 5.19 euros, and in case of option B the trade volume weighted average quotation of the Finnair Plc share on the Helsinki Exchanges between 1 July and 31 August 2001, with an addition of fifteen (15) per cent, namely 5.48 euros. From the share subscription price is deducted, as per the date of record of each dividend distribution, the amount of dividend distributed after the beginning of the period for determination of the subscription price but before the date of the share subscription.           The subscription period began in stages on 1 May 2003 and 1 May 2004 and it shall end for all warrants on 31 August 2006. The Finnair Plc share capital may rise by a maximum of 3,400.000 euros as a result of subscriptions. The social security provisions for the share option scheme have been made.           Options were been granted prior to 7 November 2002. These options have not been recognised as an expense according to the relief permitted by IFRS 2 standard "Share-based payments". Neither have disclosures according to the standard been made.           At the end of the financial period, the number of options outstanding was 1,212.544, as consequence of which the company's share capital can rise by 1,030.662.40 euros.           Finnair Plc's share-based incentive scheme 2005           "The Board of Directors of Finnair Plc approved a share-based incentive scheme on 18 June 2004. In the share-based incentive scheme key personnel have the opportunity to receive company shares as a bonus for three one-year earnings periods, depending on whether targets set for the earnings period have been met. In addition, the proportion payable as cash is 1.5 times the value of the shares.                       The Board of Directors decides annually the targets to be set. The targets are determined on the basis of the Group's financial and/or operational development. Achieving the targets set for the performance period determines how large a proportion of the maximum bonus will be paid.                       A bonus for the 2005 earning period will be paid out if the Finnair Group's earnings per share (EPS) is over 0.30 euros and if return on capital employed (ROCE) is over 5.0%. The bonus will be paid in full if the EPS is at least 0.60 euros and the ROCE at least 10.0%. Between these two values the bonus will be determined in a linear fashion. The company's Board of Directors has allocated 425,000 shares to key personnel. The fair value of each share at the time of granting was 6.40 euros.           In the financial statements, share-based liabilities payable totalled 9.5 million euros. In the financial year a total of 9.5 million euros has been recognised as an expense.           Options/share based incentive allocations granted to management             Year 2000 number of option Number of shares Shares, cash component, EUR Shares, share component, EUR Total shares, EUR Chief Executive Officer 60,000 30,030 192,192 463,010 655,202 Deputy Chief Executive Officer 63,000 17,160 109,824 264,577 374,401 Members of the Board of Directors 0 0 0 0 0