My Account Menu

CAPA Login

Register to trial CAPA Membership!

Finnair Group reports profitable 3Q2012, expects first full-year profit since 2008 in 2012

29-Oct-2012 1:18 PM

Finnair Group revenue up 7% - financial highlights for three months ended 30-Sep-2012:

  • Revenue: EUR650.3 million, +7.1% year-on-year;
  • Operating costs: EUR603.5 million, +3.3%;
    • Fuel: EUR179.6 million, +24.5%;
    • Labour: EUR97.7 million, -11.5%;
  • Operating profit: EUR71.1 million, compared to a profit of EUR10.6 million in p-c-p;
  • Net profit: EUR50.8 million, compared to a profit of EUR1.9 million in p-c-p;
  • Passenger numbers: 2.4 million, +8.6%;
  • Passenger load factor: 81.3%, +3.9 ppts;
  • Revenue per ASK: EUR 6.93 cents, +7.8%;
  • Yield: EUR 7.54 cents, +2.3%;
  • Operating cost per ASK: EUR 6.60 cents, +6.1%;
  • Cost per ASK excl fuel: EUR 4.43 cents, -1.1%;
  • Cargo volume: 37,338 tonnes, -5.0%;
  • Cargo yield: EUR 24.41 cents, -7.3%;
  • Total assets: EUR2312 million, -1.9% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: EUR48.4 million, -2.2% when compared to period ended 31-Dec-2011;
  • Total liabilities: EUR1558 million, -2.9% when compared to period ended 31-Dec-2011. [more - original PR]

Finnair: “The fourth quarter is traditionally weaker than the third in our business, and the continued uncertainty in the global economy makes the visibility for the rest of the year weak, particularly with regard to the demand for corporate travel. Due to the prevailing uncertainty, we have taken a conservative approach to increasing our capacity and are flexible to make further adjustments to our operations if necessary. Our long-term strategy remains unchanged: we believe the growing demand for Asian traffic will continue to create new business opportunities for Finnair. Despite the uncertainty over the fourth quarter, we are confident that we will post a profitable operational result for the full year for the first time since 2008," Mika Vehviläinen, CEO. Source: Company statement, 26-Oct-2012.