HELSINKI--(BUSINESS WIRE)--Regulatory News:
Finnair (HEX:FIA1S) will today host a Capital Markets Day for institutional investors and analysts. The event will be opened by Finnair’s CEO, Pekka Vauramo, who will present an update on Finnair’s strategy which was announced on 12 May 2016. The programme of the event is available on Finnair’s website at http://www.finnairgroup.com/investors/investors_2_1_2.html.
The overarching theme of the event is Finnair’s plan to speed up its growth. Growth can be accelerated in particular by retaining two A330 wide-body aircraft in operation beyond 2017, which were initially scheduled for decommissioning at the time. Finnair now expects its capacity to grow annually by 8–10% on average as measured by ASK during the strategy period extending to 2018. Furthermore, it now expects to double its Asian traffic from the 2010 level already in 2018, while the original target was set at 2020.
The CMD will also shed light on how Finnair seeks to outperform average unit revenue developments in its key markets. Among other things, the company seeks to increase its ancillary revenues from last year’s level of a good 10 euros per passenger to 15 euros by 2018. At the same time, Finnair’s average aircraft size will grow, and the company will recruit about 900 persons during the strategy period, particularly in flight operations. Combined with continuous cost discipline, this will have a positive impact on the cost structure: the company expects its fleet costs, relative to ASK, to decrease by 8% during the strategy period while the average wage costs of its flying personnel should decrease by 9%.
In addition, the event includes will give insight on recent developments, the outlook in Finnair’s key market of China, Finnair’s measures to ensure its operational excellence during the transitional growth period, as well as the company’s current investment plans.
Finnair's Capital Markets Day will begin at 1:00 pm local time. The event can be viewed live at http://cloud.magneetto.com/finnair/2016_0525_CMD/angular, and a recording will be posted on the site by the following day. The presentation material in English will be available at the company's website at www.finnairgroup.com when the event begins.
Finnair is a network airline specialising in passenger and cargo traffic between Asia and Europe. Helsinki’s geographical location gives Finnair a competitive advantage, since the fastest connections between many European destinations and Asian megacities fly over Finland. Finnair’s vision is to offer its passengers a unique Nordic experience, and its mission is to offer the smoothest, fastest connections in the northern hemisphere via Helsinki and the best network to the world from its home markets. Finnair is the only Nordic carrier with a 4-star Skytrax ranking and a member of the oneworld alliance. In 2015, Finnair’s revenues amounted to EUR 2,255 million and it had a personnel of 4,800 at the year-end. Finnair Plc’s shares are quoted on Nasdaq Helsinki.
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