Finnair’s 3Q2018 result was ‘particularly burdened’ by the rise in fuel costs: CEO

    Finnair interim CEO, CFO Pekka Vähähyyppä reported (25-Oct-2018) the carrier did experience some ‘headwinds’ in 3Q2018, including:

    • The exceptionally warm summer in Finland slowed the growth of travel demand, especially in Jul-2018 and Aug-2018;
    • Traffic suffered from delays and cancellations caused by Asian typhoons and operational issues caused by tight supply of spare engines. The cancellations slowed the growth in passenger and ancillary revenue;
    • The rapid capacity increase in Finnair’s European traffic caused a temporary imbalance between long and short haul capacity, which together with the tightened competition pressed loads and yields in this region;
    • Finnair’s result was “particularly burdened” by the rise in fuel costs by close to a third year-on-year. [more – original PR]