Key figures

On 21 March 2019, Finnair published its restated financials 2018 resulting from:

• the adoption of the new leasing standard IFRS 16 as of 1 January 2019 (using the full retrospective method),
• changes in its accounting principles relating to aircraft frame components, including cabin components and frame overhauls, and,
• structural changes in Finnair's financial reporting chart of accounts, including income statement, balance sheet and cash flow reporting line item changes.

Finnair´s financial reporting for 2018 has been restated to account for the new reporting practices.Details are available in the documents below:

Restatements Release 21.03.2019 (PDF)
Finnair Restatements 2018 ENG (PDF)
Restatements 2018 ENG (Excel)
Please the webcast by clicking this link (video)

Comparable operating result: operating result - items affecting comparability

Comparable operating result, % of revenue: comparable operating result / revenue x 100

Items affecting comparability: unrealised changes in foreign currencies of fleet overhaul provisions + fair value changes of derivatives where hedge accounting is not applied + sales gains and losses on aircraft and other transactions + impairment + changes in defined benefit pension plans + restructuring costs

Comparable EBITDA: comparable operating result + depreciation

Comparable EBITDA, % of revenue: comparable EBITDA / revenue x 100

Gross capital expenditure: additions in fixed assets + new contracts in right-of-use assets + reassessments and modifications in right-of-use assets

Cash funds: cash and cash equivalents + other financial assets

Interest-bearing net debt: adjusted interest-bearing liabilities - cash funds

Adjusted interest-bearing liabilities: lease liabilities + other interest-bearing liabilities + cross currency interest rate swaps in derivative financial instruments

Basic earnings per share: (result for the period - hybrid bond and capital loan expenses net of tax) / average number of outstanding shares during the period

Equity ratio, %: equity total / equity and liabilities total x 100

Gearing, %: interest-bearing net debt / equity total x 100

Earnings/share: Result for the period - hybrid bond expenses net of tax ÷ Average number of shares during the period, adjusted for share issues

Return on capital employed (ROCE), %: (result before taxes + financial expenses + exchange rate gains and losses) / (equity total + lease liabilities + other interest-bearing liabilities, average of reporting period and comparison period) x 100

Cash to sales, %: cash funds / revenue x 100

Available seat kilometres (ASK): total number of seats available × great circle distance in kilometres

Unit revenue per available seat kilometre (RASK): revenue / available seat kilometres (ASK)

Revenue passenger kilometres (RPK): number of revenue passengers × great circle distance in kilometres

Unit revenue per revenue passenger kilometre (yield): passenger revenue / revenue passenger kilometres (RPK)

Gearing, %: Net interest-bearing liabilities ÷ (Shareholders' equity + non-controlling interests) x 100

Unit cost per available seat kilometre (CASK): (operational costs - other operating income) / available seat kilometres

Return on equity (ROE), %: Profit for the financial year ÷ (Shareholders' equity + non-controlling interest, average) x 100

CASK excluding fuel: (comparable operating result - revenue - fuel costs) / ASK x 100