Q3 2024 Finnair Oyj Earnings Call Transcript
Key Points
- Passenger numbers increased by 9%, aligning with capacity growth.
- Ancillary revenue grew by 26% and cargo revenue by 29%, driven by e-commerce shipments.
- Financial expenses reduced by 10 million EURO, improving the bottom line compared to Q3 2023.
- Operative cash flow increased by 4 million EURO, aiding in bond buybacks and improving financial stability.
- Successful refocusing of route network and fleet redeployment, enhancing revenue management and yield optimization.
- Comparable EBIT fell short of the previous year's strong performance due to lower unit revenue.
- Ticket prices decreased by 9%, leading to a decline in passenger revenue.
- Passenger load factors decreased, particularly in European and domestic routes.
- On-time performance decreased to 77% due to airspace and air traffic control capacity restrictions in Europe.
- Yield normalization and competitive pressures are expected to impact future quarters.
Good day. Ladies and gentlemen, I'm Salonen from Finnair Investor Relations. And it's my pleasure to welcome you all to this Finnair third quarter, 2024 earnings call I have here with me, our CEO Mr Turkka and he is joined by our Co Kristian Pullola for the Q&A session.
I will now turn this call over to you to please go ahead.
Thank you. Our third quarter, 2024 we saw our comparable EBIT to fell short of the strong comparison period of last year due to lower unit revenue. However, we are still maintaining our full year expectation unchanged that I will cover later in this presentation.
When we take a bit more detailed view that how did the most important quarter and peak season materialize in our numbers. We did see that the number of passengers increased by some 9% which was pretty much aligned with our capacity increase. So, we started to see more parallel development with the number of passengers versus the capacity that we have put into the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
