All Finnair articles – Page 5
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NewsFinnair develops ‘financial bazooka’ to survive crisis
Finnair has enough cash to survive until late 2021 with little or no flying, having introduced a raft of financial measures to ensure it can survive the coronavirus crisis
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NewsFinnair cuts winter capacity to match reduced demand
Finnair has scaled back its flight schedule for the winter season, in response to weakened demand amid ongoing Covid-19-related travel restrictions. The Oneworld carrier states that between 25 October 2020 and 31 March 2021 it will operate 75 flights a day, down from 350 in the same period of 2019. ...
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NewsCrisis spurs competition regulator to prolong Oneworld transatlantic pact
UK competition regulators have imposed interim measures to address concerns over transatlantic routes operated under the Oneworld alliance’s joint business arrangement, having opted not to accept concession proposals put forward earlier this year. Oneworld carriers British Airways and American Airlines had offered slots at London Heathrow or Gatwick to alleviate ...
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Airline BusinessWinter of disconnect ahead for Europe’s airlines
There are few crumbs of comfort for European airlines as they look back on a worse-than-expected summer season and forward to what could be a bleak winter.
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NewsFinnair slashes planned October capacity
Finnair is more than halving the number of flights it intends to operate during October as resurgent coronavirus cases and heightened travel restrictions hit passenger demand.
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NewsFinnair to cut 1,000 jobs and continue temporary layoffs
Finnair has started negotiations to cut up to 1,000 permanent jobs – 15% of its total workforce – amid “exceptionally tight” travel restrictions in its home country.
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NewsFinnair seals A350 sale-and-leaseback to bolster cash position
Finnair has flagged an immediate positive cash effect in excess of €100 million after finalising the sale-and-leaseback of one of its Airbus A350 aircraft.
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NewsFinnair expects to restore 50% of flights by September
Finnair is expecting to rebuild its services over the third quarter, operating around 50% of its pre-crisis flight capacity by September, up from the figure of 25% in July. It aims to carry out 120 daily flights in August and increase this to 190 in September. The airline turned in ...
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NewsFinnair raises €501m from oversubscribed share offering
Finnair has disclosed that investor have oversubscribed by nearly 11% to a new share issue intended to reinforce the Nordic company’s liquidity. The company says it will receive net proceeds of around €501 million. Finnair received subscriptions for more than 1.416 billion shares against the 1.279 billion on offer. The ...
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NewsFinnair embarks on €500m share issue
Finnair has embarked on a €500 million rights issue which will centre on the release of up to 1.279 billion new shares in the company to strengthen its equity and liquidity. The issue carries conditions including limiting managers’ salaries up to 2022 and restricting it from making acquisitions. Finnair will ...
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NewsFinnair seeks further layoffs to match reduced flying schedule
Finnair will enter talks with its entire workforce to secure additional temporary layoffs aimed at downsizing the number of employees to match its much-reduced flying schedule over the coming months.
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NewsFinnair outlines plan to restart Europe and Asia flights in July
Finnair plans to start operating 30% of its network from July with flights to a number of key European and Asian cities.
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NewsFinnair to launch €500m rights offering as coronavirus losses mount
Finnair is to launch a €500 million ($542 million) rights offering to rebuild its equity after disclosing it expects to lose around €2 million a day during the second quarter.
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NewsFinnair converts A350 passenger cabins for freight transport
Finnair is the latest airline to temporarily transform passenger cabins into freight carriages, disclosing plans to fill two of its Airbus A350s with cargo to boost capacity between Europe and Asia. Until now, Finnair has only transported freight in the belly of its passenger A350s. However, the airline has unveiled ...
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NewsFinnair to slash 90% of capacity as it warns of heavy losses
Finnair has followed neighbouring Nordic carrier SAS in making dramatic operational cuts, slashing 90% of its normal capacity from the beginning of April. The Finnish flag-carrier says the cuts – in response to a substantial fall in demand following the coronavirus outbreak – will be maintained “until the situation improves”, ...
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AnalysisFinnair lays out ambitious new sustainability strategy
Finnair has pledged to make environmental protection a core company value and halve its net carbon emissions by 2025, versus last year, under a new sustainability strategy.
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NewsFinnair, Wizz latest European carriers to extend cuts to counter coronavirus
Finnair and central European budget carrier Wizz have become the latest European carriers to detail more plans for cuts in response to the coronavirus outbreak.
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NewsFinnair seeks savings as it rapidly rethinks coronavirus impact
Finnair is taking a more pessimistic view of the potential impact from the coronavirus outbreak, expecting it to result in significantly lower operating profits for the first half. It is looking to trim costs by €40-50 million ($44-55 million) to cope with the threat to its revenue streams, and is ...
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NewsFinnair explores pilot furloughs amid China pullback
Finnair has begun talks about temporary layoffs with its long-haul pilots following a reduction in its services to China because of the coronavirus outbreak.
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NewsFinnair relaxed over coronavirus financial impact
Finnair is optimistic that the coronavirus outbreak in China is likely to have only a small impact on its first-quarter financial performance, even if mainland China flight cancellations continue until the end of March. The airline says the direct impact is “relatively limited” but it has refrained from forecasting full-year ...