Finnair hopes for buyer after €15mn loss

Airline wants Finnish government to open door for M&A
Finnair is hoping the Finnish government will open the door for mergers or acquisitions after posting a worse-than-expected quarterly core operating loss of €15 million.
Cost cuts and a focus on flights to Asia contributed to an annual profit last year. However, the airline struggles with tough low-cost competition, while low fuel prices were not fully reflected in these results due to hedging.
But fuel costs will decline later in 2016, it promises, and sales are set to grow with the help of new aircraft.
The government owns 55.8% of Finnair and is reportedly planning to scrap a clause that says the state must hold a majority stake in the flag carrier.
Reuters

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