The current climate of the aviation industry has made operations at some companies challenging. However, while demand grows, other concerns loom over.
For Finnair, they say that there’s a lot of uncertainty in the industry to date. As a result, anticipating what the performance of 2023 looks like isn’t guaranteed. The conflict has heavily hit Finnair in Ukraine. The subsequent closure of Russian airspace has meant that the airline had to reroute services and suspend some. In addition, as a result, the soaring fuel price has hurt operations too.
For 2022 Finnair reported an increase in revenue. However, while revenue grew and there were other positives within the airline business, there were looming concerns. Concerns are only heightened as Finnair continues battling with some of the difficulties.
Finnair says they earnt a total of US 2.4 billion in revenues. This is a significant jump on 2021’s performance, calculated to be a 181% increase.
As a business, it is equally important to adapt to current challenges. Finnair, while being hurt by Russian airspace closures and the continued lengthy lockdown of such, they say their network will see changes. However, executives note they hope to forge greater performance thanks to additional partnerships with carriers, Asia’s re-opening, and new potential codeshare/expansions.
Any expansion of the business or adjustments will have to be done correctly. Given the current operating climate, any wrong decision cannot be afforded.
Daniel Fowkes
18 Feb 2023
· Airlines
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