Travel restarted in
July - September 2021 - Earnings per share were -
0.08 euros (-0.15)*. -
Revenue increased by 104.7% to
199.4 million euros (97.4). -
Comparable operating result was -
109.1 million euros (-167.0). Operating result was -106.0 million euros (-183.1). -
Cash funds were
1,181.4 million euros (31 Dec 2020 : 823.7) and equity ratio was 14.1 per cent (31 Dec 2020 : 24.6). -
Net cash flow from operating activities was
27.1 million euros (-267.3), and net cash flow from investing activities was 357.4 million euros (21.6).** -
Number of passengers increased by 71.6% to 0.8 million (0.5).
-
Available seat kilometres (ASK) increased by 97.6%.
-
Passenger load factor (PLF) was 41.6% (38.7).
January - September 2021 - Earnings per share were -
0.28 euros (-0.56). -
Revenue decreased by 41.6% to
424.9 million euros (727.2). -
Comparable operating result was -
403.6 million euros (-432.4). Operating result was -394.2 million euros (-449.9). -
Net cash flow from operating activities was -
149.8 million euros (-864.5), and net cash flow from investing activities was 376.4 million euros (216.4).** -
Number of passengers decreased by 58.6% to 1.3 million (3.2).
-
ASK declined by 49.4%.
-
PLF was 35.7% (66.6).
- Earnings per share were -
0.28 euros (-0.56). -
Revenue decreased by 41.6% to
424.9 million euros (727.2). -
Comparable operating result was -
403.6 million euros (-432.4). Operating result was -394.2 million euros (-449.9). -
Net cash flow from operating activities was -
149.8 million euros (-864.5), and net cash flow from investing activities was376.4 million euros (216.4).** - Number of passengers decreased by 58.6% to 1.3 million (3.2).
- ASK declined by 49.4%.
- PLF was 35.7% (66.6).
* Unless otherwise stated, comparisons and figures in parentheses refer to the comparison period, i.e. the same period last year.
** In Q3, net cash flow from investing activities includes
Outlook
guidance issued on 15 JUly 2021:
Travel restrictions have been lifted at a slower pace than expected and, therefore, the recovery in demand has also been delayed. We expect that demand will increase gradually during the fall 2021 as now
The travel restrictions will, however, continue to have a softening impact on demand especially in
As a result of the pandemic situation, inclusive of virus variants, visibility remains weak and there are several scenarios of the timing of the recovery and, thus, the company will not provide guidance on full year 2021 revenue.
Finnair will update its outlook and guidance in connection with the Q3 2021 interim report.
NEW GUIDANCE ON 26 october 2021:
Even though travelling in
Further, due to the slow recovery of Asian traffic, Finnair estimates that the comparable operating losses will continue also during the first half of 2022. Even though Finnair estimates that the operational environment in the second half of 2022 will be closer to the pre-pandemic era, the company expects a return to its 2019 traffic levels, as measured in annual ASKs, in 2023.
Finnair will update its outlook and guidance in connection with the financial statements bulletin for 2021.
CEO Topi Manner :
The negative impact of the pandemic continued in the third quarter, and our passenger numbers and revenue remained considerably below the pre-pandemic levels. Our result was still heavily negative.
Restrictions on travel between
Air cargo demand was exceptionally strong, especially at the end of the reporting period, due to global supply chain issues. Finnair Cargo achieved record revenues and enabled us to further increase the number of passenger flights to our long-haul destinations in
Thanks to the improved booking situation and strong cargo operations, our operating cash flow for the third quarter turned positive for the first time since the fourth quarter of 2019.
We continued our financing measures and completed a sale and leaseback arrangement of four A350 aircraft, using the related proceeds of more than
Early November will see significant development as
We have started normalising the customer experience, reopening amenities such as our lounges at
As traffic increases, we have been able to call more employees back to work from furlough, which makes us all happy. We are also preparing to launch our new direct service from
Financial reporting in 2022
The publication dates of Finnair's financial reports in 2022 are the following:
- Financial Statements Bulletin for 2021 on Thursday
17 February 2022 -
Interim Report for January-
March 2022 on Wednesday27 April 2022 -
Half-year Report for January-
June 2022 on Tuesday19 July 2022 -
Interim Report for January-
September 2022 on Friday28 October 2022
This text is a summary of Finnair's Interim Report January -
Board of Directors
Briefings
Finnair will hold a results press conference (in Finnish) on
An English-language telephone conference and webcast will begin at
For further information, please contact:
Chief Financial Officer
Director, Investor Relations Erkka Salonen, tel. +358 9 818 5101, erkka.salonen@finnair.com
Further information:
Finnair communications, 358 9 818 4020, comms@finnair.com
Distribution:
NASDAQ OMX Helsinki
Principal media
Finnair is a network airline, specialising in connecting passenger and cargo traffic between
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