Snapshot of FINNAIR OYJ (FNNNF)

Finnair Oyj revised earnings guidance for the fourth quarter of 2011. According to preliminary results the third quarter is profitable, but the current estimates indicate that the company's fourth quarter results will be weaker than expected. The company announced that second half of 2011 is expected to be slightly negative. However, the company expects that the results of the second half of 2011 will be better than the results of the first half of the year. According to the earlier Finnair profit guidance the result for the second half of 2011 was expected to return to profit. This change in financial outlook reflects that prebookings for business travel, especially in Finland, have been weaker than expected after the end of the European holiday season, and that those bookings are unlikely to pick up significantly during the fourth quarter due to current global economic uncertainty. In addition, the profitability of Finnair cargo traffic is declining, due to decreases in both prices and demand. Suntours meanwhile continues to suffer from overcapacity in the industry. Finnair continues to expect that its revenues will grow by more than 10% in 2011.

Finnair Oyj reported traffic results for the month and year to date ended September 2011. For the month, the company reported passenger’s traffic of 714,000 up by 9.5%. Available seat kilometers were 2,473.1 million, up by 14.7%. Revenue passenger kilometers were 1,808.2 million, up by 11.9%. Passenger load factor was 73.1%, decreased by 1.8% points. Available tonne kilometers were 395.4 million, up by 16.9%. Revenue tonne-kilometers were 244.9 million, up by 11.8%. Overall load factor was 61.9%, decreased by 3.0% points. For the year to date, the company reported passenger’s traffic of 6,099,700 up by 11.3%. Available seat kilometers were 22,057.3 million, up by 15.6%. Revenue passenger kilometers were 16,305.3 million, up by 10.3%. Passenger load factor was 73.9%, decreased by 3.5% points. Available tonne kilometers were 3,419.7 million, up by 20.1%. Revenue tonne-kilometers were 2,125.1 million, up by 14.0%. Overall load factor was 62.1%, decreased by 3.3% points.

Finnair Oyj announced that it plans to launch a winter service between Helsinki and Dubai in the United Arab Emirates. From October 7, 2011 the route will be flown three times a week until March 23, 2012 with a Boeing 757 aircraft. Finnish Tour operators will have a quota of seats on the scheduled services.