Finnair updates its financial targets, grows pax numbers in October 2019

Following a period of accelerated growth, Finnair states that it is now moving into a new phase targeting sustainable and profitable growth. For the 2020-2025 strategy period, Finnair aims to keep capacity growth, measured in Available Seat Kilometres (ASK) to 3-5% CAGR; it also seeks to optimise liquidity, yet keeping cash to sales ratio above 15% (34% as per 30 September 2019); keep its gearing ratio 175% at maximum (74% as per 30 September 2019). The airline will also assess renewal and downsizing of the hybrid bond, while increasing the share of owned aircraft compared to leased aircraft Finnair aims