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Finnair's Profit Doubles!

Fri Aug 25, 2000 6:20 am

Just read this Finnair press release and was extremely surprised considering what they've had to go through (ATC strike, other possible strikes) that their profit doubled over the previous reporting period. Clippings of the press release:

Profit earned by Finnair Group during April – June 2000 was almost twice than that recorded during the corresponding period of the previous year. The result before taxes was EUR 57.1 million, having been EUR 30.3 million the year before. Turnover grew by 2.9 per cent from the previous year and amounted to EUR 414.2 million. The positive trend in yield continued during the first quarter of the financial year.

"We are naturally satisfied that the turn for the better which began in the autumn of 1999 continued during the period April - June. We have adjusted our production capacity to better correspond to healthy demand, which is visible in the growth in yields. The positive trends for Business Class and cargo are particularly pleasing," says Finnair President and CEO Keijo Suila.

Group operating costs fell by 0.4 per cent, despite the rise in fuel costs of 53 per cent compared with the previous year.

For the entire article visit http://www.finnair.com/news/2000/pr200008242.htm

Yay to Finnair, at least a few airlines are doing well, seems you mostly hear about airlines in the red and such...

Head in the clouds... yet feet planted firmly on the ground.
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Joined: Tue Mar 28, 2000 2:45 pm

RE: Finnair's Profit Doubles!

Fri Aug 25, 2000 6:30 am

I was glad to read about it. I flew them in June from JFK-Helsinki roundtrip. The plane was full and the service was wonderful.Yesterday I read about the profit LH made recently. Both LH and finnair are in alliances with US carriers, wonder how much this affects their profits. A great deal i suppose. Too bad BA cant see the forest for the trees and get an effective alliance. They are too blindsighted in protecting fortress Heathrow. in the meantime i hope the profits of AF, Finnair, and LH just keep gewtting larger and larger. Nice job Finnair.
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Joined: Mon Oct 18, 1999 3:09 am

RE: Finnair's Profit Doubles!

Fri Aug 25, 2000 7:34 am

finnair-congrats!i wonder if Oneworld had any to do with it and many european airlines are making profits,if only BA would give up a slot or two at LHR,their profit could be bigger. anyway congrats to finnair!
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