Saturday, November 11, 2017

Finnair expects to triple 2016 operating profit

Finnair has again stepped up its 2017 full-year operating profit outlook to over €155 million ($180 million) - nearly triple the €55 million figure it posted in 2016 - exceeding the top end of its most recent €135-155 million guidance.

The Finnish flag carrier originally expected to deliver a €110 operating profit in 2017, doubling its 2016 performance, but this was upgraded to the €135-155 million range in September.

However, Finnair said on Nov. 10 that passenger and cargo traffic sales have developed better than forecasted. This triggered the latest outlook revision.

“Finnair expects its comparable operating result for 2017 to exceed €155 million,” Finnair said in its disclosure.

The airline reiterated its prior commitment to hitting 9% capacity growth across the full year, but said revenue would grow slightly faster than capacity. Finnair previously said revenue would grow in line with capacity.

In 2016, Finnair carried almost 11 million passengers, generating €2.3 billion in revenue.

(Victoria Moores - ATWOnline News)

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