FINNAIR TO CANCEL 100 FLIGHTS DUE TO STRIKE

The cabin crew strike, which has forced Finnair to cancel more than 100 flights, will result in a loss for the Finnish flag carrier for this fiscal year. Finnair shares fell 3.5%, while shares in SAS also fell due to expected losses by its Blue1 unit. For every day of the strike, Finnair says it will lose approximately €2 million. Such large scale losses are expected to translate into a full-year operating loss for the airline, the airline warned. This year it had expected to make a profit having posted a loss in 2009. Analysts are suggesting the profit warning