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Finnair turnaround loses momentum

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Operational loss for fourth quarter is €31.7 million

 

 

Finnair has swung back to a loss for the fourth quarter. Its recent turnaround appears to have lost momentum, hit by strike threats, a decline in leisure travel customers and a weaker Japanese yen, Reuters reports.

Finnair’s operational loss for the quarter was €31.7 million, which contrasts with a narrow profit of €100,000 for the same quarter a year earlier. Turnover was down 8.5% to €560.6 million.

“The factors contributing to the decline in turnover were lower euro-denominated revenue due to the depreciation of the Japanese yen, a contraction in leisure traffic and lost turnover arising from the strike threat,” the airline said in a statement.

Reuters

[pictured: Airbus A340; courtesy Finnair]

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