Finnair more than doubles net profit in Q3; uncertainty looms
Finnair recorded Q3 net profit of E87.6m (US$95.6m), more than doubled from E39m for the year-ago period. The carrier achieved the result on revenue of E640.9m, up 3% on the comparable period last year. However, the airline said the next few months would see increasing uncertainty. Finnair reiterated its previous assessment that its 2016 capacity would grow by approximately 7% compared to 2015, but revenue would grow more slowly. The carrier said market conditions were increasingly challenging, with a rise in fuel prices and market capacity growth continuing to put pressure on yields. “Considering the current market environment, we are satisfied about breaking the record result posted in the comparison period,” CE Pekka Vauramo said. Capacity in Q3 grew 8.4% compared to the same period a year ago. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-10-27/oneworld/finnair-more-than-doubles-net-profit-in-q3-uncertainty-looms
https://portal.staralliance.com/cms/logo.png
Finnair more than doubles net profit in Q3; uncertainty looms
Finnair recorded Q3 net profit of E87.6m (US$95.6m), more than doubled from E39m for the year-ago period. The carrier achieved the result on revenue of E640.9m, up 3% on the comparable period last year. However, the airline said the next few months would see increasing uncertainty. Finnair reiterated its previous assessment that its 2016 capacity would grow by approximately 7% compared to 2015, but revenue would grow more slowly. The carrier said market conditions were increasingly challenging, with a rise in fuel prices and market capacity growth continuing to put pressure on yields. “Considering the current market environment, we are satisfied about breaking the record result posted in the comparison period,” CE Pekka Vauramo said. Capacity in Q3 grew 8.4% compared to the same period a year ago. <br/>
