Finnair Group half-year report 1 January – 30 June 2024

Finnair,  Europe's leading outsourced airline has released its latest results for the first half of this year.  The carrier said its revenue had increased by 2.3 per cent to €766.1 million and comparable operating result was €43.6 million and the operating result was €42.5 million between April and June 2024. 

For January – June 2024 Finnair's passenger numbers increased by 1.9% to 5.5 million, load factor decreased to 73.5%. Net cash flow from operating activities was €312.0 million, and net cash flow from investing activities was -67.5 million euros.

Global air traffic is expected to continue growing in 2024, but for Finnair, the risks related to the impact of inflation and higher interest rates on demand and costs remain elevated, causing uncertainty in the operating environment. International conflicts and global political instability also cause uncertainty in the operating environment. These factors may affect the demand for air travel and cargo the carrier warned. 

Finnair plans to increase its total capacity, measured by ASKs, by c. 10 per cent in 2024. The capacity estimate includes the agreed wet leases. This growth will mainly focus on Asia and Europe. Finnair’s revenue is expected to grow more slowly than capacity in 2024.  It estimates that its revenue in 2024 will be within the range of 3.0–3.2 billion euros and the company also estimates that its comparable EBIT will be within the range of 110–180 million euros in 2024.

CEO Turkka Kuusisto explained:  "We carried 3.0 million passengers in April–June and revenue for the period increased by 2.3 per cent driven by higher ancillary and cargo revenue. Comparable operating result amounted to 43.6 million euros (66.2). The decrease was caused by lower yields and passenger load factor in the quarter. Our operating cash flow remained strong and financial position improved supported by refinancing actions during the quarter.

Runway renovation at Helsinki Airport in April–June impacted negatively our on-time performance and increased costs in the form of re-routing customers to their connecting flights. Our on-time performance was 76.0 per cent (84.9). On-time performance was also affected by challenging weather conditions that delayed flights and increased our costs.

Pent-up demand after the COVID-19 pandemic has largely been released and consumer confidence has been low for a long time. These are now being reflected also in travel demand, which is normalising after a period of strong demand during 2023. Based on the strong demand in 2023, we increased our Available Seat Kilometres (ASK) for 2024 by improving aircraft utilisation and by deploying aircraft that returned from British Airways wet lease outs into our own use. As travel demand is normalising, the capacity increase has not yet increased our revenues accordingly, and our passenger load factor was 74.7 per cent (76.3). Continuous capacity optimisation is a normal part of traffic planning and we continue to work every day to optimise our network and schedules."

Finnair voted again as the Best Airline in Northern Europe

Air travellers have again voted Finnair the Best Airline in Northern Europe at the World Airline Awards by Skytrax in 2024. This is the 14th consecutive time that Finnair has received this recognition.  

The World Airline Awards by Skytrax is the world’s largest, annual airline passenger satisfaction survey, also known as the Oscars of the aviation industry. The survey analyses customer satisfaction for the overall airline customer experience, at both the airport and on board the aircraft.   

”We are honoured to receive this recognition, which is a testimony to the hard work and dedication of our Finnair team who strive to ensure the smoothest possible travel experience for our customers every day across our customer touchpoints. We continue investing in seamless customer journey, starting from our digital channels and customer care to the inflight experience and cabin design,” says Ole Orvér, Finnair’s Chief Commercial Officer.

Finnair was also named Best Cabin Crew in Northern Europe, and awarded Cleanest Airline in Europe, which measures the standard and quality of aircraft cleanliness. Finnair also ranked within the top 25 airlines globally and moved up one place to 23rd place worldwide.

Finnair continues to work for customer experience with special focus on operative reliability, enhanced digital services and increased customer choice. Finnair has recently announced that the airline completed the rollout of its new 200-million-euro long-haul cabin renewal, with all long-haul aircraft now refurbished and the opening of a new, larger Finnair Lounge at Helsinki Airport Schengen area. In the coming months, Finnair will continue to invest in its customer experience and fleet, having announced the upcoming renewal of the cabins of its regional E190 aircraft.

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New Finnair Lounge on the Schengen side of Helsinki Airport will open on 9 July 2024

Finnair continues to invest in customer experience as the airline announces the opening of its brand-new Finnair Lounge on 9 July. Located on the Schengen side of Helsinki Airport, near gate 21, the lounge is designed to bring unparalleled comfort and convenience to travellers. 

"We are delighted to announce the opening of our new Schengen lounge, providing even more space and comfort before take-off. Responding to the feedback from Finnair Plus tier members, the lounge features also an exclusive Finnair Platinum Corner for Finnair Plus Platinum and Platinum Lumo members to enjoy," said Ole Orvér, Chief Commercial Officer at Finnair. 

Business Class Classic and Flex ticket holders, and Finnair Plus Gold members can access the new Finnair Business Lounge. Lounge access can also be purchased as a travel extra during ticket booking, via Manage booking, or through the Finnair app. 

Finnair completes rollout of its €200 million new long-haul cabin

Finnair has successfully completed the rollout of its new 200 million euro long-haul cabin renewal, with all long-haul aircraft now refurbished. 

The project included the launch of an entirely new Business Class seat, a brand-new Premium Economy cabin, and a refreshed Economy Class, giving customers the ultimate onboard experience. 

The state-of-the-art cabin was first launched in 2022, and within the space of two years, has been rolled out to the airline’s entire long-haul fleet of A350s and A330s. Customers can now enjoy a consistent Finnair experience on all of Finnair’s long-haul routes between Finnair’s home hub Helsinki, and the US, Middle East, and Asia.  

Ole Orvér, Chief Commercial Officer of Finnair said: “After just two years, it is fantastic to have completed the rollout of our new award-winning long-haul cabin. 

“Since its launch in 2022, customer feedback on our revolutionary Business Class seat and brand-new Premium Economy cabin has been excellent, so we are proud to be able to offer the renewed cabin on flights to all our long-haul destinations. 

Finnair adds flights to Lapland and Norway for next winter

Finnair adds flights to Rovaniemi in Finnish Lapland, and Tromsø and Trondheim in Norway for the next winter season.* Finnair will have up to 63 weekly flights to Rovaniemi, which is 13 more than last winter. The additional frequencies will be focused on the most popular travel days, Wednesday, and the weekend. During the peak hours on Saturdays, there will be flights to Rovaniemi as often as every half an hour. 

Additionally, Finnair will fly from Rovaniemi to Tromsø in Northern Norway six days per week. Flights between Rovaniemi and Tromsø were first introduced back in December 2023, and the connections are operated as tag flights: Helsinki-Rovaniemi-Tromsø and Tromsø-Rovaniemi-Helsinki. Finnair also has direct year-round flights from Helsinki to Tromsø. 

In addition, Finnair will increase the number of flights to Trondheim and will fly to the popular Norwegian destination six times per week in the upcoming winter season. 

“Last winter showed that interest in our northern destinations continues to grow. The additional frequencies serve especially well the European network and guarantee smooth daily connections to the north via Helsinki”, says Ole Orvér, Chief Commercial Officer of Finnair.  

The aviation industry’s winter season extends from October to March, so travelers can enjoy Lapland’s unique travel experiences not only in winter but also in late autumn and early spring. Finnair is the only airline that flies to Finnish Lapland all year round.

*Winter season 2024: 27.10.2024-29.3.2025

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Finnair resumes flights to Tartu

Finnair will resume flights to Tartu, Estonia, from 2 June 2024. Finnair suspended flights to Tartu for a month so that an approach solution that doesn’t require a GPS signal could be introduced at Tartu airport. 

The approach methods previously used at Tartu airport were based on GPS signals. As a result, GPS interference in the area has sometimes prevented aircraft from approaching and landing at the airport. This led Finnair to suspend flights between Helsinki and Tartu from 29 April to 31 May.  

During May, the approach methods used at Tartu Airport have been updated so that some of the approaches can be used without a GPS signal. These renewed approach methods are based on radio signals sent from ground stations. These types of ground-based methods have been in use in aviation for a long time, and GPS interference does not affect their usability. Similar traditional approach methods are still in use at some airports as an alternative to GPS-based approach methods.  

"Estonian Air Navigation Services (EANS) has done an excellent job in implementing the alternative method. I want to thank all our partners in Estonia for solving this matter so swiftly," says Jari Paajanen, Vice President, Operations Control at Finnair. 

Finnair flies to Tartu twice a day, six days per week, and flights are operated by Finnair’s partner Norra with ATR aircraft.  

GPS interference has increased clearly since 2022, but it has not impacted the safe operation of flights. Finnair’s aircraft systems detect GPS interference, and the aircraft has other navigation systems that can be used when GPS interference occurs. Finnair and Norra pilots are also well aware of GPS interference and know how to prepare for it. 

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Finnair issues EUR 500 million notes

Finnair Plc issues new inaugural rated senior unsecured notes in the aggregate principal amount of EUR 500 million (the "Notes"). The Notes will mature on 24 May 2029 and carry a fixed annual interest of 4.750 per cent. The issue date for the Notes will be 24 May 2024.

“I would like to warmly thank all investors who invested in our new senior bond for their trust in Finnair. The new bond completes our comprehensive measures to restore a healthy balance sheet. The company is now well positioned to continue implementing its strategy and creating value for all stakeholders”, says Finnair’s CFO Kristian Pullola.

The Company will submit an application for the Notes to be admitted to trading on the official list of Nasdaq Helsinki Ltd.

The Company intends to use the proceeds of the Notes, less costs and expenses incurred by the Company in connection with the issue of the Notes, to fund the purchase of existing notes of the Company due 2025 pursuant to the tender offer announced on 14 May 2024 and refinancing and other general corporate purposes of the group. The final tender offer results will be announced as soon as practicable after the expiry of the offer period.

Danske Bank A/S, Deutsche Bank Aktiengesellschaft, Nordea Bank Abp, OP Corporate Bank plc and Skandinaviska Enskilda Banken AB (publ) act as Bookrunners for the issue of the Notes

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In April, Finnair carried 905,200 passengers. This was 4.2% more than in April 2023.

The number of passengers increased year-on-year, also cargo figures improved

The overall capacity, measured in Available Seat Kilometres (ASK), increased in April by 3.9% year-on-year as additional narrow-body capacity was deployed by Finnair after the wet lease outs to British Airways ended in March 2024. If wet lease outs are included, capacity increased by 5.9% due to the co-operation with Qantas. Finnair's traffic, measured in Revenue Passenger Kilometres (RPKs), increased by 1.6%. The Passenger Load Factor (PLF) declined by 1.6% points to 72.5%. The distance-based reported traffic figures do not take into account longer routings caused by the airspace closure as they are based on Great-Circle distance in accordance with the industry practice.

The ASK increase in Asian traffic was up by 0.4% year-on-year. The North Atlantic capacity decreased by 14.6%. In European traffic, the ASKs were up by 14.1% as majority of the increase in narrow-body capacity was allocated to Europe and new routes, such as Wroclaw. The Middle Eastern capacity declined by 7.4% mainly due to cancelled flights to Israel. The ASKs in domestic traffic increased by 17.5% due to the additional narrow-body capacity.

RPKs increased in Asian traffic by 2.0% year-on-year but decreased in North Atlantic traffic by 3.0%. They increased by 2.8% in European traffic and by 2.7% in domestic traffic. In Middle Eastern traffic, RPKs were down by 1.4%.

In April, the PLF was 74.8% in Asian traffic, 73.3% in North Atlantic traffic, 71.7% in European traffic, 68.7% in Middle Eastern traffic and 67.3% in domestic traffic.

Passenger numbers in Asian traffic increased by 1.2% year-on-year but decreased in North Atlantic traffic by 3.4%. They increased by 6.4% in European traffic and by 1.1% in domestic traffic but decreased by 3.8% in Middle Eastern traffic.

The total cargo tonnes increased by 9.6% year-on-year in April due to growth in Europe and Middle East. Revenue cargo tonne kilometres increased by 4.1%.

In April, 74.9% of all Finnair flights arrived on schedule (86.1%). On-time performance was mainly impacted by severe weather conditions.

Traffic statistics for May 2024 will be published on Thursday 6 June 2024.

Finnair suspends flights to Tartu for a month over safety issues

The national airline in Finland has confirmed it has suspended its daily flights to Tartu, Estonia, over safety issues until 31 May.  

Finnair says the approach methods currently used at Tartu Airport are based on a GPS signal. GPS interference, which is quite common in the area, affects the usability of this approach method and can therefore prevent the aircraft from approaching and landing. Last week, two Finnair flights had to divert back to Helsinki after GPS interference prevented the approach to Tartu as the pilots were unable to perform visual approach or landings. 

Finnair believes that the month-long suspension of its flights will give it enough time to work out another way to develop approach methods to Tartu Airport. Finnair is the only airline operating international flights to Tartu.  

"We apologize for the inconvenience the suspension causes to our customers. Flight safety is always our top priority, and as the approach to Tartu currently requires a GPS signal, we cannot fly there in the event of GPS interference," says Jari Paajanen, Finnair's Director of Operations. 

GPS interference has increased since 2022, and Finnair pilots have reported interference, especially near Kaliningrad, the Black Sea, the Caspian Sea and the Eastern Mediterranean. Typically, GPS interference does not affect flight routes or flight safety, as pilots are well aware of it and aircraft have alternative systems in place that are used when the GPS signal is interfered with. 

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Finnair adds flights to Lapland: Experience a unique summer destination via Helsinki Airport

Finnair is adding more weekly flights from Helsinki Airport to Kuusamo, Ivalo and Kittilä for the summer holiday season. Both Finnair and Norwegian also provide flights to Rovaniemi, making Lapland even easier to reach in the summer. See below for tips on summer experiences in Lapland!

As a result of the added weekly flights, Finnair will fly to Kuusamo up to seven times a week in the summer. Kuusamo is an excellent destination, especially for hikers, as the national parks of Oulanka and Salla offer fantastic scenery for hikes. The Karhunkierros Trail, which runs through Oulanka, is perhaps the most famous hiking trail in Finland.

Finnair flies daily to Ivalo in the summer, with up to 11 flights a week. The experiences offered by Ivalo include Saariselkä Resort’s wide range of activities and the stunning sandy beaches of the Ivalo River – and the opportunity to learn more about the unique and rich Sami culture.

Finnair offers several flights a day to Rovaniemi, and in July there are up to 34 weekly flights to Santa’s hometown. Norwegian also flies to Rovaniemi. You can meet Santa Claus in Santa Claus Village all year round, but in the summer it is definitely worth it to try things such as canoeing and fishing in the midnight sun, as well as husky, reindeer and jet ski safaris.

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Looking for more tips for summer in Lapland?

Follow Vesku the Reindeer’s adventures and get inspired for your trip (Visit Finland).

Learn more about Ivalo, Rovaniemi and Kittilä.

There are also daily flights to Kittilä, to which Finnair flies up to 9 times a week. For those who do sports, Kittilä is a fantastic destination where some of Finland’s most famous holiday resorts serve daredevils all year round. Ylläs, for example, offers 190 kilometres of mountain bike trails in the national park’s old-growth forests and fells. It’s also worth visiting the nearby Pallastunturi fells, which have been proven to have the purest air in the world.

Finnair updates its traffic programme for winter 2024 and summer 2025

Weekly frequencies to Japan and Dallas; opens a new route to Kirkenes, Norway

Finnair has updated its traffic programme for summer 2025. In Japan, Finnair will add frequencies to Tokyo Narita, offering thus daily flights to both Tokyo Haneda and Tokyo Narita in summer 2025. Additionally, Nagoya will get a third weekly frequency. 

Finnair also introduces a new destination in Northern Norway, the town of Kirkenes, starting in summer season 2025. Finnair will fly to Kirkenes from Helsinki via Ivalo three times a week, operated with a 68-seater ATR aircraft. The new route serves Finnish and international travelers looking to explore both Finnish Lapland and Northern Norway and experience, for example, the famous Hurtigruten cruise that sails to and from Kirkenes.  

“We are delighted to introduce a destination that further strengthens our already extensive network in the Arctic region. The new route enables a smooth connection for customers travelling up to Northern Norway, making it fast and easy to reach the destination from Helsinki”, says Ole Orvér, Chief Commercial Officer at Finnair.  

In the Baltics, Finnair will add frequencies to Tallinn, Riga and Vilnius for the summer of 2025. Tallinn and Riga will get five and Vilnius two additional weekly frequencies. 

Finnair has also updated its winter 2024 traffic programme, adding frequencies to Dallas, making it a year-round daily service. Finnair’s Dallas flights offer smooth connections to American Airlines’ extensive network out of their Dallas hub.  

*Winter season 2024: 27.10.2024-29.3.2025; summer season 2025: 30.3.2025-25.10.2025

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Finnair Traffic Performance in March 2024

Year-on-year, passenger traffic figures declined but cargo figures improved

In March, Finnair carried 918,900 passengers. This was 3.6% less than in March 2023.

The overall capacity, measured in Available Seat Kilometres (ASK), increased in March by 3.9% year-on-year. If wet lease outs are included, capacity increased by 2.8%. Finnair's traffic, measured in Revenue Passenger Kilometres (RPKs), increased by 0.3%. The Passenger Load Factor (PLF) declined by 2.7% points to 75.0%. The distance-based reported traffic figures do not take into account longer routings caused by the airspace closure as they are based on Great-Circle distance in accordance with the industry practice.

The ASK increase in Asian traffic was 13.5% year-on-year explained e.g. by the additional capacity to Japan and South Korea. The North Atlantic capacity decreased by 11.6%. In European traffic, the ASKs were up by 2.1%. The Middle Eastern capacity declined by 7.3% mainly due to cancelled flights to Israel. The ASKs in domestic traffic increased by 4.9%.

RPKs increased in Asian traffic by 6.9% year-on-year but decreased in North Atlantic traffic by 7.2%. They decreased by 1.4% in European traffic, by 9.3% in Middle Eastern traffic and by 1.8% in domestic traffic.

In March, the PLF was 73.6% in Asian traffic, 72.1% in North Atlantic traffic, 78.5% in European traffic, 72.5% in Middle Eastern traffic and 72.5% in domestic traffic.

Passenger numbers decreased year-on-year in Asian traffic by 3.5%, by 17.9% in North Atlantic traffic, by 0.5% in European traffic, by 11.7% in Middle Eastern traffic and by 7.3% in domestic traffic.

The total cargo tonnes increased by 8.6% year-on-year in March due to increased Asian and European capacity. Revenue cargo tonne kilometres increased by 9.2%.

In March, 83.7% of all Finnair flights arrived on schedule (84.6%).

Finnair has executed a reverse split on its shares

Finnair Plc confirmed on Wednesday it had executed a reverse split, i.e. the reduction of the number of shares in the Company, and a related directed share issue without consideration, redemption of shares and cancellation of shares. After these measures, the new number of shares in the Company is 204,811,392. The new number of shares has been registered with the Trade Register maintained by the Finnish Patent and Registration Office today, 20 March 2024, and trading with the new total number of shares in the Company commences on Thursday 21 March 2024 with a new ISIN code FI4000567029. Finnair’s trading code FIA1S will remain the same after the reverse split.

Finnair’s Annual General Meeting resolved on 18 March 2024 on the reverse split and on a related redemption of shares so that after carrying out the reverse split, every 100 shares in the Company corresponds to one (1) share in the Company. Concurrently with the execution of the reverse split, the Board of Directors of the Company has resolved on implementing the directed share issue without consideration resolved by the Annual General Meeting in which the Company has issued without consideration a total of 4,714,922 treasury shares held by the Company in such manner that the number of shares in each book-entry account holding Finnair’s shares has been made divisible by 100. The aggregate market value of the shares issued without consideration is EUR 140,976.17, based on the closing price of 20 March 2024.

After the directed share issue, the Company has redeemed without compensation 99 shares for each 100 shares in the Company, in accordance with the resolution of the Annual General Meeting. The Company’s shares redeemed in connection with the reverse split have been cancelled immediately. After the reverse split, Finnair holds 354,315 treasury shares.

The aim of the reverse split is to facilitate trading conditions of the shares by increasing the value of a single share as well as to improve the price formation of the shares.

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Finnair Traffic Performance in February 2024

A two-day political strike at the beginning of February had a negative impact on passenger traffic numbers, cargo figures improved year-on-year

In February, Finnair carried 804,700 passengers. This was 2.3% less than in February 2023, even though there was one day more in February 2024 due to the leap year. The decrease was mainly caused by a political strike during the first two days of the month which forced Finnair to cancel c. 550 flights.

The overall capacity, measured in Available Seat Kilometres (ASK), increased in February by 3.4% year-on-year despite the political strike. If wet lease outs are included, capacity increased by 3.6%. Finnair's traffic, measured in Revenue Passenger Kilometres (RPKs), decreased by 0.8%. The Passenger Load Factor (PLF) declined by 3.1% points to 72.1%. The distance-based reported traffic figures do not take into account longer routings caused by the airspace closure as they are based on Great-Circle distance in accordance with the industry practice.

Finnair's Board of Directors decided on a new period for the long-term incentive plan for management and experts

Performance-based incentive plan for management and experts

The Board of Directors of Finnair has, as part of the existing long-term incentive scheme structure, approved a new individual performance share plan period covering the years 2024–2026. Within the plan, the participants have the opportunity to earn Finnair shares as a long-term incentive reward, if the performance targets set by the Board of Directors for the plan are achieved. The participants include the Finnair Executive Board as well as other management and experts. The purpose of the plan is to incentivise the participants to work for increased shareholder value in the long-term, and to increase retention.

The annually commencing performance share plans have three-year performance periods. The potential share rewards will be delivered to the participants in one tranche after the performance period and they are at the participants’ free disposal after delivery. The potential share rewards will be delivered to the participants in the spring 2027.

The members of Finnair’s Executive Board are expected to retain at least fifty per cent of the net shares received based on the arrangement until their share ownership in Finnair corresponds to at least their annual gross base salary.

­­Finnair Group Financial Statements Release 1 January – 31 December 2023

Finnair has posted its latest results that show the carrier achieved a solid end to a strong year due to a robust market and visible results from revenue and a cost-cutting programme. 

October – December 2023                            

Revenue increased by 5.8% to 727.2 million euros (687.3*).

Comparable operating result was 22.5 million euros (17.9) and operating result was 27.3 million euros (38.0).

Earnings per share were 0.004 euros (0.005**).

Result for the period included positive, one-off deferred tax items of 46 million euros based on previous years’ tax losses.

Cash funds were 922.0 million euros (1 524.4) and they decreased from Q3 mainly due to the 220-million-euro pension premium loan repayment and the over 200-million-euro acquisition of previously leased aircraft during the period. The equity ratio was 15.6 per cent (9.9).

Net cash flow from operating activities was -5.7 million euros (29.9), and net cash flow from investing activities was -177.7 million euros (-54.3).*** Gross capital expenditure totalled 268.6 million euros (61.8).

Number of passengers increased by 6.5 per cent to 2.6 million (2.5).

Available seat kilometres (ASK) increased by 10.5 per cent to 9,047.5 million kilometres (8,185.5).

Passenger load factor (PLF) was 73.1% (72.3).

January – December 2023                            

Revenue increased by 26.8% to 2,988.5 million euros (2,356.6).

Comparable operating result was 184.0 million euros (-163.9) and operating result was 191.4 million euros (-200.6).

Earnings per share were 0.022 euros (-0.060**).

Result for the period included positive, one-off deferred tax items of 145 million euros based on previous years’ tax losses.

Net cash flow from operating activities was 472.3 million euros (259.0), and net cash flow from investing activities was -464.0 million euros (-75.5).*** Gross capital expenditure totalled 484.2 million euros (199.6).

Number of passengers increased by 20.8 per cent to 11.0 million (9.1).

Available seat kilometres (ASK) increased by 15.5 per cent to 36,154.5 million kilometres (31,298.4). This is c. 77 per cent compared to 2019 ASKs. When wet leases are included, ASKs were c. 81 per cent compared to 2019.

Passenger load factor (PLF) was 76.4% (67.6).

* Unless otherwise stated, comparisons and figures in parentheses refer to the comparison period, i.e., the same period last year.

** A rights issue was implemented in November 2023 and, thus, the comparison period figure has been restated accordingly.

*** In Q4, net cash flow from investing activities included 68.0 million euros of redemptions (38.9 million euros on investments) in money market funds or other financial assets (maturity over three months). In 2023, investments totalled 60.7 million euros (12.8 million euros). They are part of the Group’s liquidity management.

Finnair Traffic Performance in January 2024

Finnair Traffic Performance in January 2024

Increase in passenger traffic numbers year-on-year during a seasonally slower month, on-time performance impacted by severe weather conditions

In January, Finnair carried 819,800 passengers, which was 0.4% more than in January 2023.

The overall capacity, measured in Available Seat Kilometres (ASK), increased in January by 5.6% year-on-year. If wet lease outs are included, capacity increased by 4.0%. Finnair's traffic, measured in Revenue Passenger Kilometres (RPKs), increased by 1.3%. The Passenger Load Factor (PLF) declined by 3.0% points to 69.2%. The distance-based reported traffic figures do not take into account longer routings caused by the airspace closure as they are based on Great-Circle distance.

The ASK increase in Asian traffic was 13.1% year-on-year explained e.g. by the additional capacity to Japan and South Korea. The North Atlantic capacity decreased by 5.8%. In European traffic, the ASKs were up by 5.9%. The Middle Eastern capacity declined by 7.3% mainly due to cancelled flights to Israel. The ASKs in domestic traffic increased by 0.4%.

RPKs increased in Asian traffic by 3.0% year-on-year but decreased in North Atlantic traffic by 3.7%. They increased by 2.2% in European traffic but decreased by 0.9% in Middle Eastern traffic and by 2.4% in domestic traffic.

In January, the PLF was 68.5% in Asian traffic, 67.3% in North Atlantic traffic, 68.9% in European traffic, 79.4% in Middle Eastern traffic and 63.9% in domestic traffic.

Passenger numbers increased in Asian traffic by 0.6% year-on-year but decreased in North Atlantic traffic by 4.0%. They increased by 3.4% in European traffic but declined by 2.7% in Middle Eastern traffic and by 5.2% in domestic traffic.

The total cargo tonnes increased by 17.5% year-on-year in January due to increased Asian and European capacity. Revenue cargo tonne kilometres increased by 16.3%.

In January, 66.2% of all Finnair flights arrived on schedule (81.2%). On-time performance was mainly impacted by severe weather conditions.

Traffic statistics for February 2024 will be published on Thursday 7 March 2024.

Finnair to cancel approximately 550 flights due to political strike in Finland on 1–2 February

Several employee unions in Finland have announced a political strike against the Finnish Government, taking place on February 1–2, 2024. The political strike will have a significant impact on Helsinki Airport’s operations and on Finnair’s flight operations, and consequently, Finnair expects to cancel approximately 550 flights between 1.–2.2.2024. 

Finnair has approximately 280 flights per day in its normal traffic program, so the vast majority of flights will be cancelled. Finnair targets to operate a handful of flights during the strike and will communicate directly to those customers who have booking on flights that will be flown.  

Finnair will implement flight cancellations in its systems one flight at a time, starting from Tuesday morning January 30, with customers being offered alternative routings. Customers on long-haul flights with onward connections from Helsinki on February 1–2 will be routed directly to their destinations, as there are no connections from Helsinki during the strike. 

During the strike, ground services, such as baggage loading​,​ and ​inflight service (e.g. food and drink offerings)​, may be ​affected​ and the flights that ​do operate​ on those days may be delayed.  

"We have already given customers the opportunity to change their travel dates on Finnair flights. From January 30 onwards we start rerouting customers, using also other airlines’ flights,” says Jari Paajanen, Vice President, Finnair Operations Control Center.  

Due to the large number of cancelled flights and customers, processing the cancellations and rerouting customers takes approximately two days. 

"We will do our very best to offer a suitable flight option to as many customers as possible, but the number of alternative flights is limited," says Paajanen. "We ask customers to kindly wait for the rerouting from us, as our customer service team is busier than usual and queue times can be long."  

“It is unfortunate that the political strike will affect so many customers’ travel. We will work in close collaboration with our partners to ensure that after the strike, our flight operations can again commence as smoothly as possible,” says Jari Paajanen.  

Finnair adds flights to Nordic holiday destinations for the peak summer season

Finnair is adding flights to some of its most popular Nordic holiday destinations for the peak summer holiday season between end of June and August, in response to demand from both European and Asian travellers.  

“Northern Europe with its fresh air and beautiful nature attracts travellers who see authentic experiences”, says Ole Orvér, Chief Commercial Officer, Finnair. “We offer holiday travellers excellent connections across the Nordics with smooth connections via our Helsinki hub.” 

Finnair restores flights to Bodø, which is located right above the Arctic Circle in Northern Norway, and flies to Bodø five times per week between June 17 and August 2. Finnair also adds flights to Trondheim in Norway, flying to Trondheim 10 weekly flights from June to end of August. Both of these cities offer excellent opportunities for outdoor enthusiasts and those seeking to experience the stunning nature in Northern Norway. Flights to Bodø and Trondheim connect smoothly to Finnair’s international network.  

Finnair starts flights to Tartu, European culture capital 2024

Finnair starts a year-round service to Tartu in Southern Estonia as of March 31, connecting the university city to Helsinki with two daily flights six days a week. The flights connect smoothly with most of Finnair’s European, Asian, and US destinations. The flights are supported by the Tartu City Government as PSO traffic.  

Tartu is the European Capital of Culture in 2024, with over 300 events arranged in the city and in Southern Estonia during 2024.  

Finnair is the only airline operating to Tartu. The flight time between Helsinki and Tartu is approximately 40 minutes, and the flights are operated by ATR aircraft. Flights to Tartu will depart Finnair’s Helsinki hub at 1:50pm and 11:55pm, arriving at Tartu at 2:35pm and 12:40am (+1) local time respectively. On the return, flights will depart the Estonian city at 6am and 3pm, arriving at the Finnish capital at 6:40am and 3:40pm respectively. 

 The new services will complement Finnair’s existing flights between Helsinki and Estonia’s capital, Tallinn, which currently operate up to ten times per day. 

Finnair is the only airline operating to Tartu. The flight time between Helsinki and Tartu is approximately 40 minutes, and the flights are operated by ATR aircraft. Flights will depart Finnair’s Helsinki hub at 1:50pm and 11:55pm, arriving into Tartu at 2:35pm and 12:40am (+1) local time respectively. On the return, flights will depart the Estonian city at 6am and 3pm, arriving into the Finnish capital at 6:40am and 3:40pm respectively. 

The new services will complement Finnair’s existing flights between Helsinki and Estonia’s capital, Tallinn, which currently operate up to ten times per day.