Finnair lowers financial guidance for 2013

The weak visibility of air traffic development continues due to the uncertain economic outlook in Europe and slower growth in Asia. Fuel costs are expected to remain high in the last quarter of 2013, and the demand for air traffic is estimated to grow moderately. Due to the preparations already made for the possible strikes of SLSY and IAU, Finnair’s turnover will be below the 2012 level and its operational result for 2013 will turn to a loss. If the strikes are carried out to the extent threatened, they will result in further direct revenue losses of at least €60m and decrease Finnair’s operating result by at least €30m. In addition, unit costs excluding fuel (CASK excl. fuel) will increase from 2012. If the strikes are avoided, unit costs excluding fuel are expected to decrease compared to 2012.