Finnair Oyj (CHIX:FIA1Sh)
€ 3.008 (0%) Market Cap: 1.06 Bil Enterprise Value: 1.61 Bil PE Ratio: 17.30 PB Ratio: 1.15 GF Score: 60/100

Q4 2025 Finnair Oyj Earnings Call Transcript

Feb 11, 2026 / 11:00AM GMT
Release Date Price: €2.79

Key Points

Positve
  • Finnair Oyj (FNNNF) reported a strong profitability development in Q4 2025, with a 29% increase in comparable operating results compared to the previous year.
  • The company successfully issued a EUR300 million bond, indicating regained trust from customers and stakeholders.
  • Finnair Oyj (FNNNF) saw double-digit growth in the Asian markets, particularly in Japan, with plans to further strengthen this market by adding more weekly frequencies.
  • The company reported a 2% year-over-year increase in passenger numbers, indicating a recovery in customer confidence.
  • Finnair Oyj (FNNNF) ended the year with a robust cash position and a good leverage ratio, setting a strong foundation for 2026.
Negative
  • The North Atlantic traffic showed softness in terms of RSK development and load factors, posing a challenge for future quarters.
  • The company faced increased costs from environmental compliance and regulatory charges, impacting overall expenses.
  • The domestic market showed a softer performance in terms of load factor development.
  • Finnair Oyj (FNNNF) experienced a negative revenue development in the Middle East due to the cessation of flights from Copenhagen or Stockholm to Doha.
  • The first half of 2025 was challenging due to industrial action and disruptions, resulting in a EUR70 million negative EBIT impact.
Erkka Salonen
Finnair Oyj - Director, Investor relations

Good day ladies and gentlemen. I'm Erkka Salonen from FINR Investor Relations, and it's my pleasure to welcome you to this Q4 2025 earnings call. I am joined by our CEO, Turkka; and our CFO, Pia Aaltonen-Forsell, b. After the presentation, we have a Q&A session and you may present your questions either by dialing in or using the chat function of the webcast. But with these words, I hand it over to you, Turkka.

Turkka Kuusisto
Finnair Oyj - Chief Executive Officer

Thank you and good afternoon to all of you joining us today and today we have shared, in my opinion, very good news earlier when we published our Q4 report that Indicated a very strong profitability development, especially driven by the continued strong demand and solid execution.

We will discuss in short, the result in in detail, but I would characterize it as a sum of multiple factors. Of course, we benefited from the lower than. Lower fuel price, but at the same time, when we added into the equation the increased cost from the

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