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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Finnair Oyj    FIA1S   FI0009003230

FINNAIR OYJ

(FIA1S)
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Finnair Oyj : Traffic Performance in October 2020

11/06/2020 | 02:01am EST

Finnair Plc                Investor News        6 November 2020 at 9:00 a.m. EET

The COVID-19 pandemic impact was clearly visible in the October traffic figures, cargo demand still strong

In October, Finnair carried 100,800 passengers, which is 92.0% less than in the corresponding period of 2019 and 12.8% less than in September 2020. The COVID-19 impact, including the exceptionally strict travel restrictions imposed by Finland, still affected all passenger traffic figures. It was visible especially in the North Atlantic figures (no scheduled flights in October).

The overall capacity measured in Available Seat Kilometres (ASK) decreased in October by 88.5% year-on-year. Finnair operated 76 daily flights (cargo-only included) on average which was 21.1% compared to October 2019. The differences between capacity figures are explained by the shorter operated flights on average and by smaller operated aircraft compared to October 2019. Finnair's traffic measured in Revenue Passenger Kilometres (RPKs) decreased by 95.6%. The Passenger Load Factor (PLF) decreased by 50.7% points to 31.6%.

The ASK decline in Asian traffic was 86.6%. The North Atlantic capacity decreased by 100.0%. In European traffic, the ASKs were down by 90.2%. The ASKs in domestic traffic decreased by 66.3%.

RPKs decreased in Asian traffic by 96.9%, in North Atlantic traffic by 100.0%, in European traffic by 94.7% and in domestic traffic by 71.4%.

The PLF was 19.2% in Asian traffic but it was supported by the cargo operations and a very high cargo load factor. The PLF was 45.0% in European traffic and 59.6% in domestic traffic, whereas there was no PLF figure in North Atlantic traffic due to zero passenger flights in October.

Passenger numbers decreased in Asian traffic by 96.9%, in North Atlantic traffic by 100.0%, in European traffic by 93.5% and in domestic traffic by 78.2%.

Available scheduled cargo tonne kilometres decreased by 87.4% year-on-year and revenue scheduled cargo tonne kilometres decreased by 81.9%, both due to the impact of COVID-19 pandemic on scheduled flights. However, cargo related available tonne kilometres decreased by 76.7% and revenue tonne kilometres decreased by 65.3% and they both include also the cargo-only flights operated between Europe and Asia as well as Europe and North America. The total cargo tonnes were up by 26.1% from September 2020 due to continued strong demand for the cargo capacity. As a result, the cargo load factor was still clearly higher than in the corresponding period of 2019.

In October, 94.7% of all Finnair flights arrived on schedule (82.4%).

Traffic statistics for November 2020 will be published on Tuesday 8 December 2020.

Finnair Traffic
Performance October 2020
Month % Change YTD % Change
Total traffic
Passengers 1,000 100.8 -92.0 3,308.1 -73.3
Available seat 464.9 -88.5 12,146.9 -69.4
kilometres mill
Revenue passenger 147.1 -95.6 7,930.9 -75.8
kilometres mill
Passenger load factor % 31.6 -50.7p 65.3 -17.2p
Cargo tonnes total 5,037.4 -70.0 57,163.8 -60.5
Available tonne 117.3 -80.3 2,146.9 -63.0
kilometres mill
Revenue tonne kilometres 49.5 -87.7 1,088.4 -71.7
mill

Asia
Passengers 1,000 Asia 6.8 -96.9 494.8 -77.2
Available seat 264.7 -86.6 5,725.1 -70.7
kilometres mill Asia
Revenue passenger 50.7 -96.9 3,788.6 -76.9
kilometres mill Asia
Passenger load factor % 19.2 -63.6p 66.2 -17.7p
Asia

Europe
Passengers 1,000 Europe 53.4 -93.5 1,947.4 -75.5
Available seat 156.7 -90.2 4,808.9 -68.3
kilometres mill Europe
Revenue passenger 70.5 -94.7 3,028.1 -75.5
kilometres mill Europe
Passenger load factor % 45.0 -37.6p 63.0 -18.6p
Europe

North Atlantic
Passengers 1,000 North 0.0 -100.0 82.3 -78.9
Atlantic
Available seat 0.0 -100.0 848.9 -75.0
kilometres mill North
Atlantic
Revenue passenger 0.0 -100.0 647.1 -78.1
kilometres mill North
Atlantic
Passenger load factor % N/A N/A 76.2 -10.5p
North Atlantic

Domestic
Passengers 1,000 40.6 -78.2 783.6 -59.1
Domestic
Available seat 43.5 -66.3 764.0 -50.1
kilometres mill Domestic
Revenue passenger 25.9 -71.4 467.1 -53.4
kilometres mill Domestic
Passenger load factor % 59.6 -10.4p 61.1 -4.2p
Domestic

Cargo Traffic
Europe tonnes 284.2 -92.1 8,543.4 -70.2
North Atlantic tonnes 0.0 -100.0 2,542.2 -77.8
Asia tonnes 2,436.2 -79.3 29,331.8 -71.8
Domestic tonnes 28.5 -41.0 278.9 -43.5
Cargo scheduled traffic 2,748.9 -83.6 40,696.3 -71.9
total tonnes
Cargo flights, tonnes** 2,288.5 100.0 16,467.5 100.0
Cargo Traffic tonnes 5,037.4 -70.0 57,163.8 -60.5
total
Available tonne 37.9 -76.7 596.8 -62.1
kilometres* mill
Revenue tonne kilometres 36.4 -65.3 379.5 -58.5
mill
Available sched. cargo 20.6 -87.4 448.8 -71.5
tonne kms*, mill
Revenue sched. cargo 19.0 -81.9 258.8 -71.7
tonne kms, mill
Cargo load factor* % 96.0 31.6p 63.6 5.4p
- North-Atlantic cargo N/A N/A 66.3 10.0p
load factor* %
- Asia cargo load 96.1 26.1p 62.6 -0.4p
factor* %
Scheduled traffic Cargo 92.3 27.9p 57.7 -0.5p
load factor*, %

* Based on average operational cargo capacity

** Including purchased traffic

· Change %: Change compared to the figures of the respective periods in the previous year (p = points).
· Available seat kilometres. ASK: Total number of seats available. multiplied by the number of kilometres flown.
· Revenue passenger kilometres. RPK: Number of revenue passengers carried. multiplied by kilometres flown.
· Passenger load factor: Share of revenue passenger kilometres of available seat kilometres.
· Available tonne kilometres. ATK: Number of tonnes of capacity for carriage of passengers. cargo and mail. multiplied by kilometres flown.
· Revenue tonne kilometres. RTK: Total revenue load consisting of passengers. cargo and mail. multiplied by kilometres flown.
· Overall load factor: Share of revenue tonne kilometres of available tonne kilometres.

Further information: 
Finnair Media Desk, +358 9 818 4020, comms(a)finnair.com  
Finnair Galleryhttp://gallery.finnair.com  
Finnair on Twitter: www.twitter.com/Finnair 
Finnair blogs: https://bluewings.finnair.com/
Finnair on Facebook: www.facebook.com/finnair
Finnair Group website: https://company.finnair.com/en

https://news.cision.com/finnair/r/finnair-traffic-performance-in-october-2020,c3232570

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Sales 2020 837 M 1 014 M 1 014 M
Net income 2020 -622 M -754 M -754 M
Net Debt 2020 1 349 M 1 635 M 1 635 M
P/E ratio 2020 -1,17x
Yield 2020 -
Capitalization 965 M 1 173 M 1 170 M
EV / Sales 2020 2,77x
EV / Sales 2021 1,27x
Nbr of Employees 6 535
Free-Float 42,9%
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 0,57 €
Last Close Price 0,69 €
Spread / Highest target -5,25%
Spread / Average Target -16,9%
Spread / Lowest Target -30,0%
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Managers and Directors
NameTitle
Topi Manner Chief Executive Officer
Jouko Karvinen Chairman
Jaakko Schildt Senior Vice President-Operations
Mika Stirkkinen Chief Financial Officer
Jaana Maija-Liisa Tuominen Independent Non-Executive Director
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