May 7, 2015
Finnair Group reports first quarter 2015 results
Finnair’s revenue in the first quarter of 2015 was on a par with the corresponding period in 2014 at €540.4m. Revenues increased by higher passenger traffic revenue and negatively affected by lower revenue from Aurinkomatkat Suntours and cargo traffic, as well as the elimination of revenue from businesses sold after the comparison period. Finnair´s profitability improved substantially, although operational result showed a loss of €28.4m. The factors contributing to the improved result in addition to the increased revenue included further progress in cost savings as well as lower fuel prices. Unfortunately, the substantial appreciation of the dollar against the euro diluted the benefit gained from the fall in the price of jet fuel and significantly increased other dollar-denominated costs. The operational result also reflects the weak financial performance of Aurinkomatkat Suntours. Operational EBITDAR was €19.2m and net cash flow from operating activities stood at €13.0m. Cash flow from investments totalled €142.8m.