Finnair Group remains in the red in 1Q2016

Finnair Group revenue up 3% - financial highlights for three months ended 31-Mar-2016:

• Revenue: EUR536.4 million, +2.9% year-on-year;
• • Ancillary and retail: EUR29.7 million, +28.4%;
  • Cargo: EUR39.6 million, -11.4%;
• Operating costs:
• • Fuel: EUR121.6 million, -19.7%;
  • Labour: EUR91.9 million, +2.0%;
• Operating profit (loss): (EUR15.3 million), compared to a loss of EUR28.4 million in p-c-p;
• Net profit (loss): (EUR15.1 million), compared to a loss of EUR9.8 million in p-c-p;
• Passenger numbers: 2.5 million, +9.5%;
• Passenger load factor: 78.8%, +0.8 ppt;
• Cargo volume: 32,930, +8.2%;
• Revenue per ASK: EUR 6.61 cents, -2.2%;
• Yield: EUR 6.56 cents, -0.4%;
• Cost per ASK: EUR 6.79 cents, -4.6%;
• Cost per ASK excl fuel: EUR 5.30 cents, +2.6%;
• Total assets: EUR2179 million;
• Cash and cash equivalents: EUR181.9 million;
• Total liabilities: EUR1470 million. [more - original PR]

Finnair Group: "The demand outlook for passenger and cargo traffic in Finnair's main markets involves renewed uncertainty. Finnair estimates that, in 2016, its capacity measured in available seat kilometres will grow by approximately 8 per cent and that its revenue will grow at a slightly slower rate. The lower price of jet fuel supports Finnair's financial performance in 2016. Finnair will issue a forecast for the development of its full-year comparable operating result in conjunction with its interim report for January-June." Source: Company statement, 12-May-2016.