Finnair swings from loss to profit

Record passengers help positive quarterly result
Finnair posted a swing to profit for its second quarter as it carried a record number of passengers. Net profit reached €66.8 million, from a €1.1 million loss year-on-year.
Revenue was up 11.2% to €633.4 million for the period ending in June, as the airline carried just over 3 million passengers, up 10.5%. Load factor rose 6.3 percentage points to 83.7%.
“In the second quarter, Finnair carried a quarterly record number of passengers,” chief executive Pekka Vauramo proclaimed. “Sales grew particularly due to the solid demand for the backbone of our network, traffic between Asia and Europe.”
Costs at Finnair, which flies to 18 destinations in Asia and over 70 in Europe, rose 5.2% during the quarter to €614.6 million, pushed upwards by higher staff numbers. But fuel costs fell 9.4% to €114.4 million.
Ticket revenue rose 11.1% to €509.2 million, with Asia route revenue up 21.4%, Europe up 13.3%.