Finnair has hiked its full-year financial outlook, forecasting a comparable operating profit that will match – or even exceed – the immediate pre-crisis level.

It had previously signalled that its comparable operating profit would not reach the €163 million of 2019.

Finnair has lifted its guidance because travel demand is proving to be stronger than previously anticipated.

It adds that it has been progressing well with implementation of its efficiency strategy.

While it has raised the profit forecast, the airline still believes its revenues will fall short of the 2019 figure of just under €3.1 billion.

Finnair says it could potentially achieve its comparable operating profit margin target – which it set at 5% – some 12-18 months early, as a result of the improved outlook.

“However, uncertainty in Finnair’s operating environment continues as the fuel price is still high and the end of the closure of Russian airspace is not in sight,” it adds.

Finnair also cautions over the adverse effect of rising interest rates and inflation.

Finnair fleet-c-Finnair

Source: Finnair

Demand is exceeding expectations and Finnair is making good progress with efficiency plans