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Finnair

2.96 EUR

+1.23 %

13,439 following
Corporate customer

FIA1S

NASDAQ Helsinki

Transport & Logistics

Industrials

+1.23 %
-5.79 %
-6.15 %
+5.64 %
+1.51 %
+21.91 %
-66.64 %
-72.73 %
-81.77 %

Finnair is a Finnish airline. The company offers a wide range of destinations to and from Europe, and to a large part of the world's continents. The flights are mainly found around the Nordic countries, Europe and Asia. In addition to regular flights, long-haul flights are offered. The company was founded in 1923 and is headquartered in Vantaa, Finland.

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Market cap
606.24M EUR
Turnover
287.3K EUR
P/E (adj.) (25e)
-79.89
EV/EBIT (adj.) (25e)
37.2
P/B (25e)
0.99
EV/S (25e)
0.46
Dividend yield-% (25e)
-
Coverage
Recommendation
Reduce
Target price
2.70 EUR
Updated
04.12.2025
Disclaimer
Kaisa Vanha-Perttula
Antti Viljakainen
Antti Viljakainen, Kaisa Vanha-Perttula
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Revenue and EBIT-%

Revenue B

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
11.2
2026

Annual report '25

24.3
2026

General meeting '26

22.4
2026

Interim report Q1'26

Risk
Business risk
Valuation risk
Low
High
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Third party research

Finnair: Aiming to capture RASK potential - Evli

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
Third party research

Finnair: Recovery widely expected - Evli

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
Third party research

Finnair: Q3 results didn’t meet estimates - Evli

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
Third party research

Finnair: Starting to look better again - Evli

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
Forum discussions
Antti and Kaisa’s assessment is likely quite accurate considering the big picture, but I personally don’t believe there is room for two wide-body aircraft daily on the Helsinki-Dubai route. Finnair probably doesn’t have many connecting flights to offer from Dubai, whereas with Emirates...
1/14/2026, 1:16 PM
4
Frosty morning greetings from Finnair! December traffic data is out. The figures show clear growth compared to the comparison period, which was impacted by the pilots’ industrial action. We will begin a silent period on Monday and will be back online in connection with the results...
1/8/2026, 7:25 AM
by Emilia Rannanniemi
4
Good morning from Finnair! November traffic figures are now public. Generally, volumes remained stable compared to a year ago. The decline in North American traffic stopped. Arrival punctuality was significantly better than last November, when heavy snowfalls caused issues. We haven...
12/5/2025, 7:14 AM
by Emilia Rannanniemi
4
Specifically speaking about the Dubai route, I definitely agree that the additional capacity brought by Emirates’ daily wide-body aircraft is significant relative to the probable demand/market size. Thus, I would not be at all surprised if the pricing on said route faces pressure...
1/15/2026, 8:41 AM
by Antti Viljakainen
3
In December 2024, there was indeed a two-day pilots’ strike. In addition to this, the figures for that month were affected by a shorter IAU walkout as well as pilots’ bans on standby and overtime.
1/8/2026, 8:34 AM
by Emilia Rannanniemi
2
Here are Antti’s and Kaisa’s comments on Finnair’s November. Finnair published its traffic data report for November on Friday. Overall, the report was quite neutral, as a higher passenger load factor than our forecasts compensated for volumes that fell short of our expectations. ...
12/8/2025, 8:18 AM
by Sijoittaja-alokas
2
Here are Antti’s and Kaisa’s comments on how the opening of Emirates’ Helsinki–Dubai route intensifies competition in Finnair’s Middle East traffic. The opening of Emirates’ Helsinki–Dubai route intensifies competition in Finnair’s Middle East traffic, but in our assessment, the ...
1/14/2026, 12:41 PM
by Sijoittaja-alokas
1
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