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Finnair  struggles to make a profit and warns of profit hardship in the future
Friday, 07 October 2011
Finnair will not achieve profitability in the second half of 2011.The results for the second half is expected to be slightly negative and it is above all cargo sector that puts more pressure on the flyer

According to a statement from the company, it is struggling to keep its head above water contrary to previously held position of the company to count on showing profitability in the second half.

According to preliminary figures, the third quarter will be profitable, with projections indicating that Finnair's result for the fourth quarter will be weaker than expected.

The company expects, however, that the results for the second half of 2011 will be better, compared with the outcome of the first half of 2011.

Finnair justifies its profit warning to weaker than expected prior arrangement in other business segments especially after the European summer holiday period in Finland.

The company believes it is unlikely that reservation will go up significantly during the fourth quarter in light of current economic uncertainties.

"It also reduces the profitability of Finnair Cargo, due to both falling prices and volumes ", says Finnair.
In addition, Finnair tour Suntour is suffering from overcapacity in the industry. Finnair repeats forecast that its revenue will grow by more than 10 percent in 2011.
By Scancomark.se Team

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