Cargo blunts Finnair growth

Lower cargo income helped mute overall revenue growth at Finnair, which ended the first quarter of 2015 roughly on a par with last year, at EUR 540.4 million. Chief executive Pekka Vauramo said however that Finnair’s profitability had improved substantially thanks to a cost-cutting programme and lower fuel prices, although the carrier still lost EUR 28.4m.
The demand outlook for cargo, along with passenger traffic in Finnair’s main markets remains uncertain, it said, although it expects its unit costs excluding fuel to decrease compared with 2014.  
Vauramo added: “We are moving in the right direction, despite the fact that our result is still not at the level we are striving to reach. Our long-haul fleet renewal, which will start this coming autumn, will significantly improve the cost-competitiveness and customer experience of our long-haul traffic.”