Feb 11 โ€ข 11:26 UTC ๐Ÿ‡ซ๐Ÿ‡ฎ Finland Yle Uutiset

Chinese competitors fly over Russia, Finnair's CEO hopes for EU guidelines

Finnair's CEO reports a strong fourth quarter and expresses hope for EU guidelines as the airline faces competition from Chinese carriers flying over Russia.

Finnair recently reported a substantial rise in stock value after its earnings announcement, indicating strong performance in its last quarter, which CEO Turkka Kuusisto attributed to robust customer and staff support. Despite low consumer confidence indices, there is a noted increase in disposable income among consumers, who are prioritizing experiences and travel more than before. The airline has seen a growth in revenue driven largely by a resurgence in demand, especially in Asia and Europe, with significant increases in flights to Japan, where Finnair has become a dominant player with 25 weekly flights.

However, not all regions are performing equally; Kuusisto noted challenges in the North American market despite increased route offerings there. Although revenue from this sector has declined, it is still considered strategically important for Finnair's long-term operations. Kuusisto emphasized the necessity for guidance from the European Union, which could help navigate the shifting competitive landscape, particularly as Chinese airlines are beginning to take advantage of routes over Russia, posing a challenge to Finnair's operations.

In summary, while Finnair is enjoying a positive business trend in many areas, the CEO's acknowledgment of external threats from Chinese competition illustrates the complexities of the aviation market. The need for EU support in this rapidly changing environment underscores the intricacies of global air travel dynamics, where strategic responses will be crucial in maintaining competitiveness and ensuring sustained growth for Finnair.

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