Finland's Helsinki-Vantaa Airport announced (24-Aug-09) plans to open the first phase of its new EUR150 million terminal on 27-Aug-2009, serving long-haul flights and those bound for other destinations outside the Schengen area. The development includes two new gates. The second phase of the terminal's transformation will take place on 15-Sep-09, when more shops and the "My City Helsinki" restaurant world will open in the new area. The final stage will be completed on 11-Dec-2009, with the opening of a 1,000 sqm Via Lounge. [more]
Helsinki-Vantaa Airport to open first phase of new terminal on 27-Aug-2009
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Finnair accelerates long haul growth based on Europe-Asia niche, thanks to A350 and labour deals
Finnair's 2016 Capital Markets Day on 25-May-2016 was an opportunity to mark the progress made in CEO Pekka Vauramo's first three years at the airline. Since his arrival on 1-Jun-2013 Finnair has completed its entry into the oneworld trans-Atlantic JV and the JAL-BA JV; implemented cost reduction initiatives, including the renegotiation of labour agreements; and taken delivery of its first Airbus A350 aircraft. After falling into loss in 2014, it returned to profit in 2015 and its 1Q2016 results show further progress, although it remains short of Mr Vauramo's medium-term margin targets.
Finnair is now reinvigorating and accelerating its long haul growth plans, based on its niche in Europe-Asia connecting traffic. A target to double its 2010 Asia ASKs by 2020 has been brought forward to 2018, and this can be achieved with minimal additional investment. Through a refocused commercial strategy, Finnair hopes to stay ahead of market RASK performance in a weak unit revenue environment. Through growth, fleet upgrades and improved labour productivity, Finnair aims to make significant CASK reductions. Finnair management certainly appears to be more confident about the future than at any other time in the past three years and more.