Loading
8-Feb-2010 11:07 AM

Finnair reports deep net loss in 2009

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.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More