In the first quarter of 2023, Finnair reported a decrease in net sales by 1.9 percent compared to the same period last year, with a total of 681.5 million euros. Despite this, Finnair stated that unit revenues and cash flow remained at a good level, although affected by strikes that impacted turnover and profit.
The number of passengers carried by Finnair in the first quarter was 2.5 million, a decrease of 100,000 passengers compared to the previous year. The passenger kilometers offered increased by 4.4 percent, while the passenger occupancy rate decreased by three percentage points to 72.1 percent. The company reported that on flights to Thailand, utilization rates were particularly strong.
Finnair plans to increase its total capacity by over 10 percent in 2024, focusing on growth in Asia and Europe. The company expects international air traffic to continue to grow, although risks such as inflation, increased interest rates, and international conflicts could impact demand for air travel and cargo. To achieve this goal, Finnair plans to add new aircrafts and expand its network routes in these regions.
Despite challenges faced in the first quarter, Finnair emphasized success in cost savings and efficient pricing of airline tickets. The company also made changes to its loyalty program and ticketing system to improve customer satisfaction. CEO Jaakko Schildt noted that the decrease in turnover was largely due to political strikes, normalized ticket revenue
