Finnair cuts quarterly loss as pandemic restrictions ease

Finnair Thursday posted a sixth consecutive quarterly loss, with the COVID-19 pandemic still keeping most of its planes grounded, and raised its annual cost savings target to E200m from E170m. An increase in Q2 air traffic helped to boost revenue and reduce the airline’s operating loss to E139.1m from E171.2m in the same period last year. The operating loss was slightly better than a consensus forecast of E149.25m from five analysts, Refinitiv Eikon data showed, and the company said it expects to make a similar loss in Q3. “Even though travel restrictions have been lifted at a slower pace than we expected, many countries, including Finland, have now opened to travel,” CE Topi Manner said.<br/>