Finnair’s turnover grows

Finnair has seen a 10.2% boost in its turnover for the second quarter of the year compared to Q2 2011.

Turnover for the quarter reached EUR594.4 million (£467m), with turnover at EUR1.18bn (£927,000) for the first half of the year. However its net result decreased 13.9% for the first half and operating results EBIT fell 18.1%.

Its passenger count was boosted 10.6% to 2.2bn, with load factors at 77.5%. CEO Mika Vehviläinen said he was pleased with the figures and said its cost-cutting measures had helped it steer clear of the fate seen by several closed European airlines.

“The result reflects not only increased demand but also the successful progress of our structural change and cost reduction programme. We have taken definite steps forward, although the majority of cost savings are still being realised. We will continue to develop our competitiveness determinedly in line with the goals we have set by surveying new cost reduction measures and by seeking opportunities to further increase our turnover,” he explained.

In Europe it is to switch some of flights to Flybe’s Embraer aircraft, while its Asia expansion saw a new route to Chongqing.  

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