Finnair går bra - Leter etter partner?

Finnair sees swing to operational profit on 10 per cent rise in revenues

Finnair posted an unexpected swing to operational profit for the April-June quarter. The airline reported a positive €14.7 million, reversing the year ago loss of €13.8 million on the back of a 10 per cent rise in revenues to €594.4 million. The net result was that losses for the quarter fell from last year’s €23 million to €19.8 million.

CEO Mika Vehviläinen said “The result reflects not only increased demand but also the successful progress of our structural change and cost reduction programme. We have taken definite steps forward, although the majority of cost savings are still being realised. We will continue to develop our competitiveness determinedly in line with the goals we have set by surveying new cost reduction measures and by seeking opportunities to further increase our turnover”.

The possibility of Finnair joining a larger alliance or corporation surfaced again when Vehviläinen told Finnish daily Helsingin Sanomat recently that the “idea that we would be independent is not necessarily the only option. Within alliances there may be a different kind of restructuring to strengthen the cooperation.”