Finnair faced challenges at the start of 2023 with strikes that impacted the company’s business. As a result, the airline expects its turnover to grow slower than its capacity in 2024. In the first quarter of the year, Finnair reported a loss, with an adjusted operating result of EUR 11.6 million in loss and a turnover of EUR 681.5 million.
Analysts had predicted that Finnair’s adjusted operating result for the quarter would be an average loss of EUR 8 million, with a turnover of EUR 698 million. However, compared to the same period last year, Finnair had made an adjusted operating profit of one million euros on a turnover of 695 million euros. Despite this, additional sales and turnover from travel services increased during the quarter while operational expenses remained at the same level.
The decrease in turnover was attributed to several factors such as political strikes in Finland, normalized revenue from unused tickets, and lower freight prices. Strikes in Finland and Europe also affected the punctuality of flights during the quarter. The unit cost of offered passenger kilometers decreased by 4.3 percent while the number of passengers decreased by 1.9 percent during this time period
