Finnair Group expects ‘significant loss’ in 2014
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Finnair Group says it expects to make “a significant loss” in 2014, following the release of its figures for the first half of the year. 
Operating loss more than doubled in the second quarter and revenues were down 7%, according to the figures.
In a statement the company said the “ongoing uncertain economic outlook in Europe and Asia is contributing to weak consumer demand in our main markets”.
While air traffic is expected to grow moderately in 2014, the carrier said it will not be able to benefit from that growth “without progress in its cost reduction program and its target cost structure in place”.
Finnair estimates its turnover in 2014 to be significantly lower than in 2013 and fuel costs are expected to remain high.
“Due to delays in the personnel cost reduction negotiations and the unfavourable market conditions driving the decline in unit revenue, Finnair estimates that its 2014 operational result will show significant loss,” the statement concluded.
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