08 March, 2024
Finnair Traffic Performance in February 2024
20 February, 2024
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
15 February, 2024
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).
12 February, 2024
Finnair Traffic Performance in January 2024
31 January, 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.
22 January, 2024
Finnair adds flights to Nordic holiday destinations for the peak summer season
17 January, 2024
Finnair starts flights to Tartu, European culture capital 2024
15 January, 2024
Turkka Kuusisto appointed CEO of Finnair
06 January, 2024
Increase in passenger traffic numbers for Finnair
20 December, 2023
Finnair acquired six previously leased aircraft and repaid a part of its pension premium loan
13 December, 2023
Finnair Traffic Performance in November 2023
28 November, 2023
Finnair repays government covid bail out loan.
08 November, 2023
Finnair brings back flights to Nagoya; updates its winter ‘24 traffic programme
Finnair brings back flights to Nagoya; updates its winter ‘24 traffic programme
25 October, 2023
Finnair reports strong growth and profitability in the busiest quarter of the year.
July – September 2023
- Earnings per share were 0.03 euros (-0.03)*.
- Revenue increased by 13.7% to 817.3 million euros (719.2).
- The comparable operating result was 94.3 million euros (35.2) and the operating result was 90.0 million euros (19.2). Both were adversely impacted by the more expensive fuel price towards the end of the period.
- Cash funds were 1,346.3 million euros (31 Dec 2022: 1 524.4) and they decreased mainly due to the 200-million-euro hybrid bond redemption during the period. The equity ratio was 11.5 per cent (31 Dec 2022: 9.9).
- Net cash flow from operating activities was 95.5 million euros (11.8), and net cash flow from investing activities was 45.1 million euros (-0.4).** Gross capital expenditure totalled 73.2 million euros (37.5).
- Number of passengers increased by 6.6% to 3.0 million (2.8).
- Available seat kilometres (ASK) increased by 11.8% to 9,343.9 million kilometres (8,356.5).
- Passenger load factor (PLF) was 80.9% (80.1).
January – September 2023
- Basic earnings per share were 0.12 euros (-0.39).
- Result for the period included a positive, one-off deferred tax item of 99 million euros based on previous years’ tax losses.
- Revenue increased by 35.5% to 2,261.3 million euros (1,669.3).
- Comparable operating result was 161.4 million euros (-181.8) and operating result was 164.1 million euros (-238.6). Both were adversely impacted by the more expensive fuel price towards the end of the period.
- Net cash flow from operating activities was 478.1 million euros (229.1), and net cash flow from investing activities was -286.3 million euros (-21.2).** Gross capital expenditure totalled 209.4 million euros (137.8).
- The number of passengers increased by 26.0% to 8.4 million (6.6).
- Available seat kilometres (ASK) increased by 17.3% to 27,106.9 million kilometres (23,112.9).
- Passenger load factor (PLF) was 77.5% (65.9).
* Unless otherwise stated, comparisons and figures in parentheses refer to the comparison period, i.e., the same period last year.
** In Q3, net cash flow from investing activities included 63.2 million euros of redemptions (29.1 million euros) in money market funds or other financial assets (maturity over three months). In Q1–Q3, investments totalled to 128.6 million euros (26.1 million euros of redemptions). They are part of the Group’s liquidity management.
06 October, 2023
Passenger numbers creep upwards at Finnair.
13 September, 2023
Finnair is taking part in Plan International’s #GirlsTakeover campaign
08 September, 2023
Finnair Traffic Performance in August 2023
Close to one million passengers and solid passenger load factor
August passenger traffic figures improved year-on-year as the COVID-19 pandemic impacts have mostly faded and as the Russian airspace was closed already during the comparison period. The negative impact of the Russian airspace closure especially on Asian passenger traffic figures was, however, still visible in August 2023 compared to the pre-pandemic figures. 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 overall capacity, measured in Available Seat Kilometres (ASK), increased in August by 13.6% year-on-year but decreased by 2.0% month-on-month. Finnair's traffic, measured in Revenue Passenger Kilometres (RPKs), increased by 16.6% year-on-year but decreased by 7.8% month-on-month. The Passenger Load Factor (PLF) increased by 2.1% points year-on-year but decreased by 5.0% points month-on-month to 79.8%.
The ASK increase in Asian traffic was 41.5% year-on-year explained e.g. by the additional capacity to Japan and South Korea. The North Atlantic capacity decreased by 40.7% as the operations between Stockholm and the North American destinations were discontinued at the end of October 2022. In European traffic, the ASKs were up by 7.8%. The Middle Eastern capacity surged by 1,588.6% due to the Qatar Airways cooperation commenced in November 2022 and low traffic during the 2022 summer season. The ASKs in domestic traffic increased by 23.3%.
RPKs increased in Asian traffic by 54.8% year-on-year but decreased in North Atlantic traffic by 35.9%. In European traffic, RPKs increased by 4.7%, in Middle Eastern traffic by 1,450.6% and in domestic traffic by 7.9%.