Europe

Finnair starts to plan a EUR 20 million cost-efficiency programme

Finnair Embraer 190
Tis Meyer/Planepics.org

Finnair’s performance has been on an upward path now for almost two years.

The foundation for this was laid with the savings programmes conducted in 2011–2014, after which Finnair’s result has also been supported by material decline in fuel expenses and improving ancillary and retail sales.

Sustainable improvement in profitability is a prerequisite for Finnair’s accelerated growth strategy announced in spring 2016.

Finnair wants to ensure profitable growth also in an environment of elevated market uncertainty, and therefore it continues to review the efficiency of its activities. The target is to achieve permanent savings through various efficiency-improvement measures, amounting to EUR 20 million annually by the end of June 2017.

”In order to be able to invest in growth and continue on our chosen path, we must ensure that our unit costs continue to decline. With that in mind, we are now proactively taking steps to deliberate together with our personnel about the measures we could utilise to improve our result and sustain the preconditions for the implementation of our growth strategy”, states CEO Pekka Vauramo.

Finnair expects to finalise the plans on the main areas of the cost-efficiency programme during the next few months.

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