Finnair loss hits hopes for turnaround

Airline lost €17.7 million in first quarter of 2013

Finnair appears to have slipped back a step as it reported a bigger-than-expected loss for the first quarter of 2013. The underlying loss of €17.7 million compares with a €24 million loss for the same period in 2012.
The result dampens hopes for a faster turnaround following significant cost cuts and an expansion of profitable long-haul routes. It also adds pressure on the airline’s new CEO, Pekka Vauramo, to complete the turnaround begun by his predecessor Mika Vehvilainen.
Airline industry analysts say the company will have to slash more costs, such as wages and working hours, in the face of stiff resistance from unions.
[pictured: Finnair Airbus A340; courtesy Finnair]


Check Also

Laudamotion, Niki, buy, Lauda, flights, Germany, leisure, airline, Ryanair, deal, O'Leary, reason

Why is Ryanair taking over the ‘new Niki’?

Ryanair looks to increase its presence in Germany and Austria as it puts forward a plan to buy 75% of Laudamotion.

Antonov, An-148, crash, grounding, Moscow, accident, loss, cockpit, recording, captain, countries, safety

Russia grounds AN-148s, crash audio released

The grounding comes just over a month after the crash of Saratov Airlines Flight 703 near Moscow.

China Eastern, orgy, hotel, scandal, cabin crew, flight attendants, denial, social media, Weibo, Shanghai, Madrid, Stockholm

Airline denies cabin crew orgy

China Eastern, soon to launch to Stockholm, makes an emphatic denial after a graphic sex tape emerges.

mould, Denmark, museums, culture, history, visitors, funding, rot, damp, rain, climate

Denmark’s past is rotting away in its museums

Poor storage facilities and a wetter climate mean that mould is destroying cultural heritage.

Virgin Atlantic, flights, seating, economy, three, light, delight, classic, luggage, low-cost, priority, legroom, transatlantic, USA

Virgin Atlantic splits economy into three

The changes are “the biggest change to our Economy cabin in over a decade”.

Avia, Toyota, app, service, technology, connected, fleet, cars, hire, rental, business, app

Avis boosts fleet of “connected vehicles”

The car hire giant will add 10,000 Toyota vehicles to its expanding connected fleet.