Air Transport World

Finnair.(Europe)(Brief Article)

Despite "sound financial health and good growth prospects," along with a forecast of a clear return to operating profit in 2004, Finnair Group President and CEO Keijo Suila termed 2003 "a miserable year profitwise." The company booked a 21.7 million [euro] ($27.2 million) loss after financial items, a sharp reversal from a 54.4 million [euro] profit in 2002, as revenues dropped 6.4% due to the bleak global economic climate, war in Iraq, SARS and seven newcomers in the airline's home market. However, first-quarter 2004 figures suggest the 66% state-controlled company is in a recovery mode driven by expanding Asian markets and Scandinavian/Baltic gains via Stockholm-based budget-fare affiliate Nordic Airlink and Estonian-based subsidiary Aero Airlines. …

Log in to your account to read this article – and millions more.