Finnair (FIA1S) investor relations material

Executive summary

• Q2 saw strong traffic performance with passenger volumes up 6.3% in April and 7.4% in May year-on-year, supported by robust demand and constrained supply due to geopolitical events.

• Revenue per available seat kilometer rose 14.7% in April and 17.7% in May, driven by improved load factors and higher yields, especially in Asian traffic.

• Cargo business continued its positive trend, benefiting from market disruptions and higher yields.

Trading performance and revenue trends

• Load factors improved to around 78% in early Q2, reflecting solid demand and a supportive market environment.

• Both demand-driven growth and supply constraints contributed to strong pricing and booking momentum for summer and autumn.

• Ancillary revenue per passenger showed double-digit growth, aided by expanded offerings and higher volumes.

Profitability and margins

• Higher fuel costs were offset by increased unit revenues, with hedging mitigating some impact.

• RASK growth provided a strong counterbalance to CASK increases, with easing cost pressures anticipated.