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Saturday, November 21, 2009 11:42 AM

Published 11/01/2009 by Asia Travel Tips


Finnair Reports Third Quarter Loss

Thanks to a fall in demand and a lower average ticket price, the Finnair Group's turnover fell by 22% in the third quarter, between July and September 2009. The operational result was a loss of EUR 36.4 million. "The third quarter result was in line with our expectations,...

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...4 million. "The third quarter result was in line with our expectations, even though it naturally does not in any way correspond with our goals. Aircraft are flying with fairly reasonable passenger load factors, but a steep fall in the average price is eroding profitability" said Finnair's President...
Finnair Reports Third Quarter Loss [Asia Travel Tips - 11/01/2009]
...by more than 8%. "In the economic downturn, Finnair's Asian strategy has proved to be particularly important. The domestic market suffered from weak demand and price levels. It is satisfying to note that new corporate agreements in other markets have offset to some extent the decline in domestic demand. Europe-Asia traffic already accounts for over 50% of Finnair's scheduled traffic revenue." Finnair has under way...
Finnair Reports Third Quarter Loss [Asia Travel Tips - 11/01/2009]
...personnel costs. "The weakening of profitability has been slowed through energetic cost-cutting measures. Stabilisation agreements covering Technical Services, Cabin Service and Catering have played a key role. We have adjusted to falling demand by cutting capacity. Adjustment to the fall in price level, in contrast, has been less effective" Hienonen said...
Finnair Reports Third Quarter Loss [Asia Travel Tips - 11/01/2009]

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