Finnair has announced its financial results for the period from January to June 2024, revealing a decrease in profit due to the normalization of robust demand.
The airline reported a revenue of €1.447 billion and an operating profit of €32 million. Earnings per share stood at a loss of €0.06. The number of passengers reached 5.5 million with a seat load factor of 73.5%, both slightly decreased.
For the period from April to June, revenue was €767 million, operating profit was €44 million, and earnings per share were €0.09. Passenger numbers were 3 million, and including wet leases, production capacity increased by 8.4%. The seat load factor was 74.7%. Additional costs arose due to runway renovation work at Helsinki-Vantaa International Airport, heavy snow in April, and flight delays in June caused by a strike.
While international air traffic volume is expected to continue to increase, risks related to inflation and rising interest rates’ impact on demand and costs remain high. Including wet leases, the airline plans to increase its transport capacity by about 10% within the year, focusing growth on Asia and Europe. As a result, revenue growth is expected to be somewhat more moderate compared to supply increases.
Full-year revenue is projected to be between €3 billion and €3.2 billion, with operating profit forecasted to be between €110 and €180 million.
