Finnair upbeat about losses

  • 2002-08-29

The Finnish flag carrier Finnair announced a 46 percent plunge in first-half net profit to 15.4 million euros but said it expected to see sunny skies ahead.

Turnover in the first six months of the year fell by 5.8 percent to 810 million euros, the airline said.

But Finnair saw a 1.6-percent rise in net profit to 19.5 million euros for the second quarter alone compared with the same quarter last year, marking a turnaround for the airline after the devastating attacks on the United States last September.

Turnover in the quarter was 421 million euros, a 4.3 percent drop compared with last year, it said.

The airline said that by implementing an aggressive cost-cutting plan and expanding its routes to the Far East, the full-year result was expected to be a profitable one.