Finnair Mar-2011 load factors crumble
Finnair's Mar-2011 traffic has been heavily affected by the disaster in Japan, with load factors down 9 percentage points on this time last year. Overall, passenger traffic rose 1.1%, thanks in part to double-digit growth in domestic traffic. Traffic to/from Asia was up 1.6%, but European traffic matched 2010 levels, due to a fall in feeder traffic.
- Finnair's passenger traffic in March 2011 was affected by the Japan disaster, with load factors down by 9 percentage points compared to the previous year.
- Overall, Finnair's passenger traffic increased by 1.1% in March 2011, driven by growth in domestic traffic.
- Traffic to and from Asia increased by 1.6%, while European traffic remained stable due to a decline in feeder traffic.
- Finnair's cargo volume saw a significant increase of 39% in March 2011.
- The passenger load factor for Finnair decreased across all regions, with the largest decline in the Asia Pacific region (-12.2 percentage points).
- European airline shares experienced mixed performance, with Finnair shares trading 0.5% lower, while International Airline Group, easyJet, and Aer Lingus shares saw gains.
Finnair traffic highlights in Mar-2011:
- Passenger numbers: 691,800, +1.1% year-on-year;
- Domestic: 173,400, +10.5%;
- Europe: 312,500, stable;
- North America: 12,700, +1.6%;
- Asia Pacific: 116,100, +1.7%;
- Passenger load factor: 72.4%, -9.0 ppts;
- Domestic: 57.2%, -8.4 ppts;
- Europe: 62.1%, -8.0 ppts;
- North America: 75.9%, -9.2 ppts;
- Asia Pacific: 74.5%, -12.2 ppts;
- Cargo volume: 12,862 tonnes, +39%;
- Cargo load factor: 65.3%, -10.8 ppts.
Finnair shares traded 0.5% lower on Tuesday.
In general, European airline shares were moderately stronger, although Dart Group, owner of Jet2.com, was the major exception, falling 4.2%.
International Airline Group shares lead the day, up 4.5%, while easyJet rose 4.3% and Aer Lingus shares were 4.2% stronger.
Selected European airline share price movements (% change): 12-Apr-2011
