Finnair tightened its annual operating profit forecast range on Tuesday after Q3 earnings fell from a strong year-ago comparable period, sending its shares down 8% in early trade. The airline now expects comparable earnings before interest and taxes (EBIT) in the range of E120–170m for 2024, compared with E110–180m previously forecast. Finnair, however, reiterated that its revenue in 2024 would be between E3.0b and E3.2b. The airline, majority owned by the Finnish state, reported a comparable operating profit of E71.5m for Q3, down from E94.3m in the year-earlier period due to lower unit revenue amid normalising demand. Market situation weakened in all Finnair's markets compared with the year-ago period when demand was exceptionally strong, bolstered by the end of the COVID-19 pandemic, the carrier said in a statement.<br/>
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Finnair intends to re-introduce a pair of redeployed Airbus A330s to its own network when a Qatar Airways co-operation agreement ends early next year. Unveiled in August 2022, the co-operation involved deploying A330s on routes between Nordic capitals and the Qatar’s hub at Doha. The measure emerged as Finnair was forced to restructure its network to reduce reliance on Asian routes, which were being badly affected not only by the pandemic but also the closure of Russian airspace. Speaking during a Q3 briefing, Finnair CE Turkka Kuusisto said the co-operation – currently in place on the Copenhagen-Doha and Stockholm-Doha sectors – will end on 15 January. “Those aircraft will be allocated to Finnair’s own traffic,” he says, indicating that they will be used on such routes as Miami or Dubai. Finnair has four owned and four leased A330s in its fleet. It says it will be able to “productively deploy” the jets from the Qatar agreement. Both Finnair and Qatar Airways are Oneworld alliance members, and the two will continue to codeshare. Finnair’s long-haul fleet will expand in Q4 of this year with the delivery of another Airbus A350-900.<br/>