Finnair's year-end results boosted by strong sales
Finnair reported a 29% increase in comparable operating profit for Q4, driven by strong sales and a favorable operational performance.
Finnair has announced impressive financial results for the fourth quarter, with a 29% increase in comparable operating profit compared to the same period last year, amounting to EUR 61.7 million. The airline's revenue saw a modest growth of 0.8%, reflecting a steady demand for air travel, particularly in Asian and European markets. Finnair's CEO, Turkka Kuusisto, attributed this performance to robust sales and efficient operational execution.
Further support for the airline's profits came from a decrease in fuel prices and favorable currency exchange rate fluctuations. However, the introduction of increased use of renewable fuels presented a significant challenge, acting as a burden on Finnair's cost structure. Despite these challenges, the company remains optimistic about future growth, especially as it continues to capitalize on favorable market conditions.
Kuusisto highlighted that while demand in Asia and Europe was strong, there were indications of weaker traffic in the North American sector. This regional performance may call for strategic adjustments by Finnair to bolster its presence in the North American market, as the airline navigates the broader implications of economic trends affecting international travel demand.