Finnair reports improved results for first quarter 2012

Finnair’s first quarter 2012 turnover grew by 10.9% compared with 10.8%  in 2011, totalling €591.8m, compared to €533.7m in 2011. The Group’s operational result, which refers to the operating result excluding non-recurring items, capital gains and the change in the fair value of derivatives and in the value of foreign currency denominated fleet maintenance reserves, was down by nearly half at €-25.0m, compared to €-43.1m in 2011, despite a marked increase in fuel costs. The operating result amounted to €-20.2 m compared to €-43.1m the previous year and the result before taxes was €-26.2m compared to €-46.2m in 2011. The net result for the period was €-20.4m compared to €-33.8 in the first quarter of 2011.