Good result for the airline considering capacity increase in 2017 was nearly 9%.
October–December 2017Revenue increased by 13.2% to 645.3 million euros (569.9)*.
Available seat kilometres (ASK) grew by 17.2%.
Comparable operating result was 22.9 million euros (1.6).
Operating result was 23.5 million euros (18.2).
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January–December 2017Revenue increased by 10.9% to 2,568.4 million euros (2,316.8)*.
Available seat kilometres (ASK) grew by 8.9%.
Comparable operating result was 170.4 million euros (55.2).
Operating result was 224.8 million euros (116.2), including a sales gain on an A350 aircraft.
Comparable EBITDAR** was 436.2 million euros (270.4).
Net cash flow from operating activities was 382.3 million euros (219.7), and net cash flow from investing activities was -157.5 million euros (-499.6).***
Unit revenue (RASK) increased by 1.8%.
Unit cost (CASK) decreased by 2.6% and unit cost at constant currency excluding fuel increased by 0.3%.
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CEO Pekka Vauramo:
The year 2017 was excellent for Finnair. The favourable business environment supported our growth together with the right capacity, route network and product decisions we made in recent years. We ended 2017 in the middle of the fastest growth phase in Finnair’s history and we plan to continue our transformation and growth also in 2018.
Towards the end of the year, our route network was expanded by four new long-haul destinations, namely Goa, Havana, Puerto Plata and Puerto Vallarta. At the same time, we increased our flight frequency to several Asian and European destinations. We also invested heavily in our routes to Northern Finland by increasing our capacity between Helsinki and Northern Finland by more than 20 per cent for the current winter season and by introducing direct flights to Lapland from London, Paris and Zürich. Lapland is again the number one European destination for our Chinese customers this winter. Passenger demand on our route network remained strong from October to December, and we achieved a new passenger record during the period by carrying nearly three million passengers. The favorable development continued also in ancillary revenue, cargo and travel services. Our comparable operating result for the fourth quarter was a record high 22.9 million euros.
In 2017, our revenue grew to 2,568 million euros and our comparable operating result more than tripled, reaching 170 million euros. While increasing our capacity by nearly 9 per cent, we also managed to increase our passenger load factor by 3.5 percentage points. Our customer satisfaction, measured by our Net Promoter Score, increased by 4 units to 47.
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Outlook
Global airline traffic is expected to grow strongly in 2018. Finnair expects increased competition as existing and new operators increase capacity, particularly on routes linking Europe with Asia and with North America.
Finnair plans on increasing its capacity by more than 15 per cent in 2018, with most of this growth coming in the first half of the year. Passenger volume is expected to grow broadly in line with capacity while revenue growth is expected to be slightly lower.
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Finnair Group Financial Statement Release 1 January–31 December 2017
New destinations announced for 2018:
NKG
LIS
STR
LYS
TOS
MMX