Finnair Q1 revenues down 16% launches rights issu

Finnair has reported first quarter revenues down 16% to €561.2 million and also announced a rights issue for €500 million. Finnair’s current assumption is that it will operate the current minimum network throughout Q2 due to the coronavirus situation. At the same time, the company estimates that the recovery of air traffic will begin in stages from the beginning of July 2020. Finnair estimates that with the current minimum network, its comparable operating result will be a daily loss of approximately €2 million throughout the second quarter, despite cost adjustments. Chief executive Topi Manner said that despite a strong start to the year