Positives: Q3 comparable operating result in the black for the first time in almost three years and the strategy work proceeds; negatives: net result still in the red, long journey ahead.
Finnair's Q2 was overshadowed by an uncertain operating environment and historically expensive fuel; however, demand began to normalise in several markets.
Finnair’s two-sided Q1: travel revived strongly, but the Russian airspace closure had a dramatic impact on our operating environment.
In Q4, travel increased, and EBITDA turned positive. Omicron caused a short detour.
Even though travel restarted in Europe and Cargo had a record quarter, Q3 result was heavily negative. However, operating cash flow turned positive for the first time since Q4 2019.
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