Finnair Group operating income up 17.8% for three months ended Sep-2010

Finnair Group operating income up 17.8% - financial highlights for the three months ended Sep-2010:

• Operating income: EUR556.1 million, +17.8% year-on-year;
• Operating costs: EUR513.9 million, +8.5%;
  • Staff: EUR107 million, -9.9%;
  • Fuel: EUR116.7 million, +8.1%;
• Operating profit: EUR41.9 million, compared with an operating loss of EUR32.9 million in p-c-p;
• Net profit: EUR32.4 million, compared with a net loss of EUR18.1 million in p-c-p;
• Total assets*: EUR2,497.4 million;
• Total liabilities*: EUR1,665.4 million. [more]

*as at 30-Sep-2010

Finnair: "Finnair aims to maximise total revenue, which is expected to maintain the passenger load factor at the previous year's level or to reduce it slightly. Correspondingly, unit revenues are expected to be significantly higher than last year. Finnair's fuel costs are expected to be lower during the current year than last year due to the improved fuel economy of aircraft. At the present price level and hedging policy, fuel costs this year are expected to be approximately one fifth of Finnair's turnover. The final quarter is expected to be profitable, but due to seasonal fluctuations of demand and sales significantly weaker than the third quarter", Mika Vehviläinen, President and CEO. Source: Company statement, 28-Oct-2010.