Finavia is committed to good governance in all its operations. Our work is based on acts and regulations and guided by Finavia’s values, shared principles and ethical standards.
Finavia Group’s parent company is Finavia Corporation, which is managed by the general meeting, Board of Directors and CEO. The board has an audit committee and a nomination and remuneration committee. The management team supports the CEO in managing the group.
Finavia funds its operations with income from its business. Our revenue comprises income from carriers and passengers. Finavia’s operations are not supported through taxation. More information about Finavia’s finances.
Finavia Corporation’s and Finavia Group’s decision-making and governance are based on the Finnish Limited Liability Companies Act, the articles of association of Finavia Corporation and its subsidiaries, and the governance guidelines for limited liability companies that are ownership-steered by the Ministry of Transport and Communications.
* From 1 April 2017, by the Prime Minister’s Office.
Finavia complies with the 2015 Finnish Corporate Governance Code of the Securities Market Association for listed companies, as applicable. The most notable deviations from the code are due to the fact that Finavia only has one owner, the state. For this reason, compliance with all sections of the code is not considered necessary. In addition to these, Finavia follows the statement by the Cabinet Committee on Economic Policy regarding the remuneration of executive management and key individuals, issued on 12 May 2016.
Finavia’s Board of Directors confirmed the governance principles last at its meeting on 26 August 2016. Finavia’s Board of Directors also confirmed the group’s risk management and internal control principles. Finavia has a special, industry-specific security management system that forms a material part of its risk management.
Finavia is a public limited company and the state of Finland is its sole owner. The Ministry of Transport and Communications is responsible for the ownership steering of Finavia (until 31 March 2017). The ministry has defined Finavia Corporation’s ownership strategic policies, in accordance with the State Shareholdings and Ownership Steering Act. From 1 April 2017, the Prime Minister’s Office will regulate Finavia’s ownership steering.
Finavia is designated as a special assignment company in its articles of association and the Government resolution on State Ownership Policy, dated 3 November 2011. Finavia Corporation is domiciled in Vantaa.
As an owner, the state has social objectives with regard to special assignment companies, but it steers their operations on economic grounds. The state’s objectives for ownership policy are based on the best possible overall result from an economic and social perspective. The result is primarily assessed in view of the company's achievement of its social service task.