In the first nine months of this year, Finnair experienced an uptick in both revenues and passenger numbers; however, the airline’s comparable operating result slipped by €1.5 million due to industrial action that directly impacted its bottom line.
Between July and September, Finnair’s comparable operating profit fell to approximately €51 million, a drop of nearly 30% from the same period last year when the airline reported a profit of around €72 million for the third quarter. According to company reports, a wave of employee walkouts during the spring and summer resulted in a significant €68 million loss.
Notably, while profits declined, Finnair’s revenue climbed by 2%, reaching about €835 million. Passenger numbers also saw a modest increase, rising to 3.3 million from 3.2 million in the previous year.
This turbulent period was marked by the cancellation of over 1,200 flights due to strikes organized by the Finnish Aviation Union (IAU), a labor dispute that persisted for more than six months before being resolved in mid-July.
Looking ahead, Finnair remains optimistic, forecasting continued growth in global air traffic. Yet, the airline also acknowledged the uncertainties posed by international conflicts, political instability, tariffs, and potential trade wars that could impact its operations.
In emphasizing its commitment to sustainability as a core part of its strategy, Finnair stated that its profitability is currently being affected by additional costs associated with the EU’s sustainable aviation fuel distribution obligation.