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Finnair reports deep net loss in 2009

8-Feb-2010 11:07 AM
Finnair reports (05-Feb-2010) the following financial/traffic highlights:
  • Three months ended 31-Dec-2009:
    • Revenue: EUR457 million, -20.9% year-on-year;
    • Operating costs: EUR504.1 million, -16.1%;
      • Fuel: -20.5%;
    • Operating loss: (EUR39.4 million), compared to a loss of EUR13.7 million in the corresponding period last year;
    • Net loss: (EUR36.6 million), compared to a loss of EUR45 million in the corresponding period last year;
  • 12 months ended 31-Dec-2009:
    • Revenue: EUR1,837.7 million, -18.5% year-on-year;
    • Operating costs: EUR2,038 million, -10.5%;
      • Fuel: -19.2%
    • Operating profit (loss): (EUR180.2 million), compared to a profit of EUR0.8 million in the corresponding period last year;
    • Net loss: (EUR102 million), compared to a loss of EUR46.3 million in the corresponding period last year.
    • Passenger numbers: 7.4 million, -10.1%;
    • Cargo volume: 89,234 tonnes, -12.6%. [more]
Finnair: "Finnair’s passenger traffic capacity is expected to be around 10% below the previous year in the first quarter of 2010. Finnair’s scheduled traffic suffers from low unit revenue, but the passenger load factors of aircraft are expected to remain at a satisfactory level. This will lead to a further fall in turnover in the first quarter...The first quarter of 2010 is expected to remain difficult and to be clearly loss-making. Due to the efficiency measures being implemented, the Finnair Group’s profitability is expected to improve gradually towards the end of the year," Company Statement. Source: Finnair, 05-Feb-2010.