1-May-2017 2:15 PM
Finnair Group operating loss narrows in 1Q2017, outlook 'uncertain'
Finnair Group revenue up 3% - financial highlights for the three months ended 31-Mar-2017:
- Revenue: EUR554.4 million, +3.3% year-on-year;
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- Passenger: EUR422.6 million, +4.6%;
- Ancillary and retail: EUR33.8 million, +13.9%;
- Cargo: EUR39.2 million, -1.2%;
- Costs:
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- Fuel: EUR111.6 million, -8.2%;
- Labour: EUR90.5 million, -1.4%;
- Operating profit (loss): (EUR9.0 million), compared to a loss of EUR15.3 million in p-c-p;
- Net profit (loss): (EUR8.0 million), compared to a loss of EUR15.1 million in p-c-p;
- Passengers: 2.6 million, +4.1%;
- Passenger load factor: 81.4%, +2.6ppts;
- Cargo: 31,987 tonnes, -2.9%;
- Yield: EUR 6.39 cents, +1.2%;
- Revenue per ASK: EUR 6.82 cents, +3.3%;
- Cost per ASK: EUR 6.93 cents, +2.0%;
- Cost per ASK excl fuel: EUR 5.56 cents, +4.9%;
- Total assets: EUR2650 million;
- Cash and cash equivalents: EUR174 million;
- Total liabilities: EUR1832 million. [more - original PR]
Finnair: "The demand outlook for passenger and cargo traffic in Finnair's main markets continues to involve uncertainty. Finnair estimates that, in 2017, due to the fleet renewal and introduction of new aircraft, its capacity will grow 8-10 per cent, weighted strongly towards the second half of 2017. Revenue is expected to grow more slowly than our capacity, reflecting increasing capacity in the relevant markets." Source: Company statement, 28-Ap-2017.