All Finnair articles
-
NewsFinnair scales back full-year guidance after strike-hit first quarter loss
Finnair has slightly scaled back its full-year revenue and capacity expectations for 2024 after posting a first-quarter comparable operating loss of €11.6 million ($12.4 million) for the first three months of the year.
-
AnalysisFinnair ‘has made it through the crisis’ after capping profit return with strong end to 2023
Finnair’s interim chief executive Jaakko Schildt believes the company has demonstrated that it has made it through the double crisis of the pandemic and impact from the closure Russian airspace after confirming the airline’s first full-year profit since 2019.
-
NewsFinnair names postal service leader as new chief executive
Finnair has named postal company head Turkka Kuusisto as the carrier’s new chief executive, succeeding Topi Manner. Manner is set to leave the carrier on 15 January. Kuusisto has led the state-owned Posti Group since 2020, having previously held a number of senior positions in the company. His career has ...
-
NewsFinnair uses rights-issue funds to acquire previously-leased A321s
Finnair has used proceeds from its recent rights issue to purchase six Airbus A321s from lessor BOC Aviation. The airline says the twinjets were previously on lease. It states that the transaction amounts to over €200 million ($219 million) and will generate a positive annual impact of €20 million on ...
-
NewsFinnair repays government’s €400m loan following share issue
Finnair has confirmed repayment of a capital loan, with interest, to the Finnish government following a new share issue. The carrier drew down the loan of €400 million ($437 million) last year. Its share issue, conducted in November this year, raised gross proceeds of €570 million. Finnair says the government ...
-
NewsFinnair obtains €570m, including loan offset, from new share issue
Finnair has revealed that its rights issue – which was slightly oversubscribed – has raised just over €570 million ($620 million) in gross proceeds, including a €318 million commitment from the Finnish government. Net proceeds from the issue are around €558 million. The carrier had disclosed plans for a new ...
-
NewsFinnair to modernise Embraer cabin interiors as short-haul activity rises
Finnair is to revamp the interiors of its Embraer 190 fleet from next year, as the carrier highlights the growth potential in its short-haul operations. The carrier will introduce new seats, curtains and other features to the E190s of which it has 12, all operated on its behalf by Nordic ...
-
NewsFinnair outlines full-year profit expectations after positive third quarter
Finnair Group has refined its full-year profit expectations, predicting a comparable operating result of €160-200 million ($170-212 million), and estimates that revenues will reach €2.9-3.1 billion. The upper threshold of the revenue prediction is around the pre-crisis figure recorded in 2019, although Finnair had previously doubted that this year’s revenues ...
-
NewsOlder aircraft could be candidates as Finnair ponders eventual narrowbody renewal
Finnair is content with its current fleet structure but indicates that it is more likely to lean towards older engine technology for updating its narrowbodies given the long delivery lead times and recent technical snags with new powerplants.
-
NewsFinnair to cut debt costs and reinforce finances with €600m share issue
Finnair is intending to reinforce its financial position with a share issue aimed at raising €600 million ($632 million) during the fourth quarter of this year. The airline says the Finnish government, its main shareholder, is supporting the rights issue, along with other interested parties. Finnair says it will use ...
-
NewsUK competition regulator re-energises inquiry into IAG and Oneworld transatlantic pact
UK competition regulators are to re-energise the long-running probe into the IAG and Oneworld transatlantic joint business arrangement, as the air transport sector continues to recover. The Competition and Markets Authority had effectively put its investigation on hold, with interim remedies in place, as the Covid-19 pandemic disrupted airline operations. ...
-
AnalysisHow humility and trust helped Topi Manner lead Finnair out of a double-crisis
When Finnair chief executive Topi Manner makes his recently announced departure from the Oneworld carrier by March 2024, he will step away from the airline industry with a whole new appreciation of crisis management and business transformation.
-
NewsFinnair chief executive Manner stepping down to join telecom firm
Finnair chief executive Topi Manner is stepping down from his position, and leaving the flag-carrier to take up a new role. Manner is to join telecom and digital services firm Elisa Corporation, which serves customers in Finland and Estonia, as its chief. He will move to the new position by ...
-
NewsletterWhy some airlines are relieved to be flying older aircraft
A notable dynamic of the current aircraft maintenance and reliability issues being experienced by carriers around the world is that the problems have been more acute among the latest-generation technologies.
-
NewsFinnair swings to profit in Q2 citing adjustment to Russia airspace closure
Finnair has reiterated its guidance for a stronger-than-expected full-year performance, saying its positive second-quarter results reflect its successful adjustment to the closure of Russian airspace.
-
NewsOptimistic Finnair lifts full-year profit forecast
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 ...
-
NewsFinnair cautious on post-summer demand as it welcomes small Q1 profit
Finnair highlighted uncertainty about the durability of high passenger demand as it reported its third consecutive quarterly operating profit amid a strategic overhaul of the business.
-
NewsFinnair offers bus link after axing domestic flights to two key cities
Finnair is axing domestic flights to two key Finnish cities, Tampere and Turku, replacing them with a bus service. The carrier is citing “economic and environmental considerations” for the decision to cut the air links, which takes effect from 1 May. Finnair, which uses ATR 72 turboprops on the routes, ...
-
NewsFinnair chief sees some travellers avoiding Russian overflights with Chinese airlines
The chief executive of Finnair has acknowledged that Chinese airlines have an advantage over European carriers in still having access to Russian airspace, but says he does not expect all passenger segments to take up that option.
-
NewsChatGPT already offering ‘immediate-term business benefits’ for airlines
The leaders of Air Baltic and Finnair have joined other industry chief executives in talking up ChatGPT’s potential to positively impact their businesses across a range of functions.