Economic|Interim reports
The operating result was EUR 84 million in loss in April–June.
Carrier Finnair is preparing for the fact that Russian airspace will remain closed for a long time. Therefore, the company is considering new ways to alleviate heavy losses. The company is also burdened by the rising cost of fuel, the acceleration of inflation and the changing operating environment.
“These changes require a new strategy and significant structural renewal from Finnair. We are therefore currently working on a thorough strategy reassessment, and our goal is to tell more about our direction and the changes it causes in the fall,” says the CEO Topi Manner in the interim report.
Finnair the turnover in April–June was 550 million euros and the comparable operating profit was 84 million euros in loss. The negative cost effect of the record expensive fuel was approximately 126 million euros compared to the comparison period.
In the same period last year, the turnover was 112 million euros and the operating loss was 133 million euros.
“In the second quarter, Finnair moved from one crisis to another. The effects of the heavy pandemic that lasted for more than two years began to ease as demand recovered, but at the same time the effects of the war in Ukraine were felt with all their weight”, CEO Manner estimated.
Russian According to the company, due to the effects of the war that started in Ukraine, the comparable result for the current year will be significantly negative for the third year in a row.
“During the second quarter, the demand for air travel began to normalize in several markets, which was reflected in a clear increase in the number of passengers and passenger occupancy rates. We are operating at approximately 64 percent of our own capacity compared to 2019, as the closure of Russian airspace limited flying to the traditionally important markets of Japan and South Korea,” says CEO Manner.
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