Finnair

Finnair’s strategy update emphasizes RASK more than CASK, which itself wasn’t a big surprise, however the target for unit revenue growth was more ambitious than expected.

Finnair’s biggest challenges this year may now be in the past, yet it still needs to achieve significant earnings growth next year to earn its current valuation.

Finnair’s Q3 revenue was lower than estimated as ticket prices developed softer than we expected. Finnair did a bit better than we estimated in terms of costs, but this wasn’t enough to make up for the shortfall in revenue and Finnair’s EUR 50.7m comparable...

Finnair reports Q3 results on Oct 30. In our view the underlying Q3 results could already be relatively strong, but better performance towards next year is widely expected.

Finnair’s Q2 proved another weak quarter due to large costs of industrial action and the North Atlantic capacity increases’ drag on profitability as demand hasn’t been high enough. Industrial action will ruin FY’25 earnings Finnair’s EUR 788m Q2 revenue...