Finland · Delayed Price · Currency is EUR Finnair Oyj Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong revenue and operational improvements, with Asian traffic driving growth and robust cash flow supporting fleet renewal. Guidance for 2026 remains unchanged, though capacity growth is trimmed due to Middle East disruptions.
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A major fleet renewal will see 18 Embraer E195-E2s ordered and up to 12 used A320/321ceos acquired, supporting network growth, profitability, and ESG goals. Funding is robust, with flexibility in ownership and leasing, and the program aligns with strategic and financial targets.
Fiscal Year 2025
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Record Q4 profitability driven by strong demand in Asia and Europe, effective cost management, and robust ancillary sales. 2026 guidance targets 5% capacity growth, EUR 3.3–3.4 billion revenue, and EUR 120–190 million operating profit, with continued investment in fleet and digitalization.
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The strategy focuses on core customers, digital retailing, and loyalty to drive growth, with a 4% CAGR and 6%-8% EBIT margin targeted by 2029. Investments of €2–2.5 billion in fleet renewal will be balanced with strong cash flows, while operational excellence and sustainability remain central.
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Q3 2025 saw solid results despite €18M strike impact, with Asia driving double-digit growth and ancillary revenue surpassing cargo. Guidance narrowed due to North Atlantic weakness and rising environmental costs, while capital returns and operational resilience continued.
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Q2 2025 saw modest revenue growth but a sharp drop in operating result due to industrial actions, with EUR 70 million in direct impact expected for the year. Asia performed strongly, while North Atlantic demand softened. All labor agreements are now secured, stabilizing operations.
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First quarter 2025 saw a weak operating result due to higher costs and industrial action, but strong cash flow and positive booking trends support a stable outlook. Revenue and passenger numbers grew, with guidance for 2025 unchanged despite ongoing risks from labor disputes and elevated costs.
Fiscal Year 2024
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Q4 capped a year of normalization with revenue up 7.7% and a more than doubled operating result. Full-year revenue exceeded EUR 3 billion, and strong cash flow led to a proposed EUR 0.11 per share capital return. 2025 guidance anticipates higher capacity, revenue, and cost pressures from sustainability and navigation fees.
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Q3 2024 saw lower unit revenue and EBIT despite higher passenger numbers, with strong ancillary and cargo growth offsetting ticket price declines. Financial position improved, guidance for the year is maintained, and a busier winter is expected due to higher unflown ticket liabilities.
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Passenger growth and strong cargo and ancillary sales drove a modest 2% revenue increase, but yields and EBIT declined as the market normalized. Balance sheet and liquidity improved, with robust cash flow and successful refinancing, while 2024 guidance remains cautious amid industry risks.