Finnair Group operating profit down 18% in 3Q2019, unit revenue declines while unit cost increases

    Finnair Group reported (22-Oct-2019) the following financial highlights for the three months ended Sep-2019:

    • Revenue: EUR870.3 million, +7.9% year-on-year;
      • Passenger: EUR714.7 million, +8.7%;
      • Travel services: EUR57.0 million, +8.6%;
      • Cargo: EUR52.8 million, -4.0;
      • Ancillary: EUR45.7 million, +8.8%;
    • Operating costs:
      • Fuel: EUR190.1 million, +16.8%;
      • Labour: EUR131.7 million, +6.0%;
    • Operating profit: EUR94.9 million, -17.8%;
    • Net profit: EUR57.6 million, -17.9%;
    • Passenger yield: EUR 6.57 cents, -2.6%;
    • Revenue per ASK: EUR 6.89 cents, -1.5%;
    • Cost per ASK: EUR 6.10 cents, +2.0%;
    • Cost per ASK excl fuel: EUR 4.59 cents, +0.6%;
    • Total assets: EUR4037 million;
      • Cash and cash equivalents: EUR194.1 million;
    • Total liabilities: EUR3116 million.