Finnair notes declining unit revenues
Finnair stated (08-Jul-2016) RASK declined 3.8% to EUR 6.69 cents in the Apr-2016 to Jun-2016 period. CFO Pekka Vähähyyppä said: "Due to the strong growth of Finnair's long-haul traffic, available seat kilometres increased in the second quarter. Typically, unit revenues in long haul traffic are lower than in short haul, and passenger loads on recently launched long-haul routes were somewhat muted, which is typical in the ramp-up stage. These factors had a negative impact on the average unit revenue. Unit revenues in our Asian and American traffic showed a decline year-on-year, while remaining at last year's level in domestic traffic and increasing slightly in Europe. Finnair's Revenue Cargo Tonnes grew, but unit revenues declined due to overcapacity in the markets". [more - original PR]