The acute crisis phase is over, says Finnair

The acute crisis phase is over, says Finnair

The number of passengers transported by the airline increased by almost 61 percent to 2.5 million, which increased the passenger utilization rate to 72 percent.

Topi MannerCEO of Finnair on Wednesday said the airline is leaving behind the acute three-year phase of the crisis and continues to recover.

“This is another important step in the right direction, but the road to annual profitability is long and full of challenges in the operating environment,” he addedreferring to the fact that the operating profit for the whole year remained at a loss of 164 million euros.

Finnair transported a total of 9.1 million passengers in 2022, which is 6.2 million more than in 2021, and the utilization rate was 68 percent.

Manner reminded that despite ongoing challenges such as high fuel prices, the war in Ukraine and the closure of Russian airspace, the last three months of last year also brought good news. Japan opened its borders to international tourists. China eased its pandemic restrictions, paving the way for a gradual resumption of travel.

– Considering on the one hand cost inflation that is developing more positively than anticipated by the market and on the other hand cost inflation that has continued to be strong, we expect the strengthening of unit revenues to play a bigger role than we previously expected in achieving our goals, he commented.

“Despite economic uncertainty and weak consumer confidence, people want to travel, and demand is expected to remain strong.”

YLE on Wednesday considered that passenger planes are filled, even though purchasing power is weakening and prices are at their highest level for years. Manner told the broadcaster that one contributing factor has to do with telecommuting practices in the post-pandemic world: people are working remotely on Fridays so they can enjoy a long weekend elsewhere in Europe.

“People are prioritizing different experiences when weighing their spending choices, and that’s reflected in their booking habits,” he said.

Aleksi Teivainen – HT

Source: The Nordic Page

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