In the first quarter of 2024, Finnair reported a decrease in net sales by 1.9 percent compared to the same period last year, with a total of 681.5 million euros. Despite this, the company emphasized success in cost savings and efficient pricing of airline tickets. The operating result showed a loss of 1.6 million euros, more than double the loss from the previous year.
The number of passengers carried by Finnair in the first quarter was 2.5 million, a decrease of 100,000 passengers compared to the previous year. The passenger kilometers offered increased by 4.4 percent, while the passenger occupancy rate decreased by three percentage points to 72.1 percent. The company reported that on flights to Thailand, utilization rates were particularly strong.
Finnair plans to increase its total capacity by over 10 percent in 2024, focusing on growth in Asia and Europe. The company expects international air traffic to continue to grow, although risks such as inflation, increased interest rates, and international conflicts could impact demand for air travel and cargo.
Despite challenges faced in the first quarter, Finnair noted that unit revenues and cash flow remained at a good level, although affected by strikes that impacted turnover and profit. CEO Jaakko Schildt stated that political strikes were largely responsible for the decrease in turnover during this period.
To improve customer satisfaction, Finnair made changes to its loyalty program and ticketing system in recent years.
Finnair remains optimistic about its future growth and ability to adapt to changing market conditions despite facing challenges such as political strikes and declining profitability during Q1 2024.