Finnair profits plunge

Finnair profits plunge

Finnair has posted a 94% drop in net profits for the third quarter of 2011. The airline generated net profits of just EUR1.9 million (US$2.6 million) in the July-September quarter, compared to EUR32.4 million in the same period last year. This came despite a 10.1% increase in revenue, which totalled EUR607.2 million.

“We cannot be satisfied with the third quarter results, especially because – as we have stated before – the last quarter of the year will not be profitable,” said Finnair’s CEO, Mika Vehvil

Gary Marshall
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Gary Marshall
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