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Finnair operating income up in 1Q2012

30-Apr-2012 2:32 PM

Finnair reports (27-Apr-2012) the following financial highlights for the three months ended Mar-2012:

  • Operating income: EUR596.7 million, +11.2%;
  • Operating costs: EUR621.7 million, +7.0%;
    • Staff: EUR114.9 million, -1.6%;
    • Fuel: EUR167.6 million, +26.2%;
  • EBIT (EUR25 million), compared to EBIT of (EUR43.1 million) in p-c-p;
  • Net income/(loss): (EUR20.4 million), compared to (EUR33.8 million) in p-c-p;
  • Passenger numbers: 2.1 million, +10.1% year-on-year;
  • Passenger load factor: 76.2%, +3.6 ppts;
  • RASK: EUR6.04 cents, +8.7%;
  • Yield: EUR6.92 cents, +2.1%;
  • CASK: EUR6.51 cents, +2.0%;
  • CASK excluding fuel: EUR4.48 cents, -4.7%;
  • Cargo volume: 37,892 tonnes, +10.0%. [more – original PR]

Finnair: “It is expected that the operational result for the second half of the year, which is traditionally stronger due to seasonal variations, will reflect improved profitability compared to the first half of the year. Finnair’s passenger traffic capacity with its current structure is estimated to increase by around 5% in 2012. The growth will mainly come from Asian traffic, where Finnair will increase capacity in May by opening a new flight route to Chongqing, China. Finnair’s fuel costs are estimated to be significantly higher in 2012 compared to the previous year due to increased capacity and high fuel prices,” Source: Company statement, 27-Apr-2012.