Finnair reports second-quarter 2019 financial results

Darren Wood
By Darren Wood July 18, 2019 10:29

Finnair reports second-quarter 2019 financial results

Finnair has reported that its second-quarter revenue increased by 10.4% to €793 million, up from €718 million experienced in the corresponding period last year.

The airline’s unit revenue (RASK) decreased by 3.8%. Its unit cost (CASK) decreased by 1.4%, with unit cost at constant currency excluding fuel decreased by 2.9%.

 Fuel costs increased by 24.2% to €35.2 million.

The comparable operating result was €47.2 million, down from €59.1 million while its operating result was €47.9 million, down from €50.8 million.

Number of passengers flying with the airline increased by 13.1% to €3.9 million.

 Available seat kilometres (ASK) grew by 14.8%. Passenger load factor (PLF) was 82.5%.

CEO Topi Manner said: “Despite the volatile operating environment in Q2, the number of passengers carried rose to a new Q2 record of 3.9 million passengers, and our market share strengthened in both Asian and European traffic.

“Global uncertainties, such as Brexit and the US-China trade talks, and the gradual slowdown in the economies of Finnair’s key markets, were reflected in our Q2 performance. At the same time, capacity reductions in European traffic, especially on some Nordic routes, had a minor beneficial effect on the competitive situation.

“In the foreseeable, more challenging operating environment, we will pay increasing attention to operational efficiency, including cross-unit processes and resource optimisation between traffic planning and flight operations, and putting further focus on reliability. Furthermore, we will increase productivity by simplifying and automating processes, such as customer compensations, and by utilising digitalisation in distribution and customer service.”

Darren Wood
By Darren Wood July 18, 2019 10:29