Outlook and guidance

Finnair’s guidance regarding capacity, revenue and comparable operating result for 2025, excluding any impact of industrial action, is unchanged.

Under Outlook and guidance on 29 April 2025, the company provides additional information on the impacts of industrial action and highlights the increased uncertainty and risk levels in the operating environment.

Outlook and guidance on 29 April 2025

Global air traffic is expected to continue growing in 2025. However, international conflicts, global political instability, the threat of trade wars and a tense labour market situation in Finland cause uncertainty in the operating environment. In particular, the risk levels related to tariffs between different countries and their direct and indirect impacts have increased.

Excluding the impact of industrial action, Finnair has planned to increase its total capacity, measured by ASKs, by c. 10% in 2025. The capacity estimate includes the agreed wet leases. Finnair has anticipated its revenue to be within the range of 3.3–3.4 billion euros and its comparable operating result to be within the range of 100–200 million euros in 2025. In 2025, profitability is burdened particularly by additional costs caused by the sustainable aviation fuel distribution obligation introduced in the EU, as well as rising navigation and landing charges. The direct cost impact of tariffs that will enter into force after the first quarter is estimated to be limited. It is too early to estimate the magnitude of potential indirect effects.

The estimates regarding capacity, revenue and comparable operating result do not include impacts of industrial action. In the first quarter of 2025, industrial action had a negative impact of around 31 million euros on revenue and around 22 million euros on the comparable operating result. In April 2025, industrial action is estimated to have a negative impact of around 15 million euros on revenue and around 10 million euros on the comparable operating result. In addition, regardless of the duration of industrial action, Finnair has decided to cancel 230 flights scheduled for the summer season due to a temporary lack of resources following the industrial action, which is estimated to negatively impact revenue by approximately 30 million euros and the comparable operating result by approximately 10 million euros. Based on the cancellations already confirmed, industrial action is estimated to have a negative impact of approximately 5% on the total capacity in 2025, measured by ASKs.

Finnair will update its outlook and guidance in connection with the 2025 half-year report.

Previous outlook and guidance issued on 13 February 2025

Global air traffic is expected to continue growing in 2025. However, international conflicts, global political instability and a tense labour market situation in Finland cause uncertainty in the operating environment.

Finnair plans to increase its total capacity, measured by ASKs, by c. 10% in 2025. The capacity estimate includes the agreed wet leases. Finnair expects its revenue to be within the range of 3.3–3.4 billion euros and its comparable operating result to be within the range of 100–200 million euros in 2025. In 2025, profitability is burdened particularly by additional costs caused by the sustainable aviation fuel distribution obligation introduced in the EU, as well as rising navigation and landing charges, which will weigh on the comparable operating result especially for the seasonally low first quarter. In addition, the first quarter’s comparable operating result will be negatively impacted by the timing of Easter.

The estimates regarding capacity, revenue and comparable operating result do not include impacts of industrial action. In January 2025, the estimated negative impact of industrial action on comparable operating result was around 5 million euros.