FINLAND. Finland’s national carrier Finnair has warned that the current year looks bleak. The airline said that capacity adjustments and a cost-cutting campaign helped improve results but the threat of war and intensified price competition clouded its future.
“The airline industry is currently having to contend with rather bleak conditions. The tense anticipation of war continues, demand is falling and the heated market situation is weakening earnings prospects,” said Finnair ceo Keijo Suila. “We can feel the effects of the threat of war already. At this stage, it is already evident that the early part of the year will be loss-making and the whole year difficult”.
Finnair is continuing to target the Asian market and increase frequencies in scheduled traffic. It has just announced a new service between Helsinki and Shanghai in China.
