Finnair posts net profit of €1.2m in Q4 2012

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Finnair has posted a €1.2 million ($1.60 million) net profit for the fourth quarter to 31 December 2012, reversing a net loss of €32.6 million in the same period last year.

Its turnover for the quarter rose by 6.1% year-on-year to €613 million, while EBITDAR more than doubled to €55 million.

Traffic at Finnair increased 9.6% for the fourth quarter against capacity growth of 3.8%. As a consequence, passenger load factor increased 4 percentage points to 75.2%.

Total cargo carried by the airline during the quarter increased by 5.1% to 734 million tonnes.

For the full year, the carrier posted a net profit of €11.8 million, while turnover increased 8.5% to €2.45 billion. Its operational profit was €44.9 million for the period.

For the year ahead, Finnair says fuel costs are expected to remain high and passenger demand will likely grow in moderation.

The Scandinavian airline anticipates that unit costs excluding fuel will decrease compared with 2012, enabling it to target a modest operating profit.