Finnair Oyj (FNNNF) Q1 2026 Earnings Call

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WEBVTT 00:00:01.178 -- 00:00:06.083 Good day, ladies and gentlemen. I'm Erkka Kalonen from Finner Investor Relations, and 00:00:06.083 -- 00:00:11.790 it's my pleasure to welcome you to this Q1 2026 earnings call. 00:00:11.790 -- 00:00:17.856 I'm joined by our CEO, Turku Kuusisto, and our CFO, Pi-Aaltanen Forssell. 00:00:17.856 -- 00:00:22.862 After the presentation, you may ask questions either by dialing in or 00:00:22.862 -- 00:00:27.807 using the webcast chat function. But with these words, I hand it over to you, Turku. 00:00:27.807 -- 00:00:33.381 Thank you, Erkka. Very good afternoon also on my behalf. 00:00:33.381 -- 00:00:37.106 Earlier this morning, we published, 00:00:37.106 -- 00:00:42.232 in my opinion, a strong Q1 report, especially given the fact that the 00:00:42.232 -- 00:00:47.899 Q1 is typically low season for our sector and also for 00:00:47.899 -- 00:00:53.025 Finnair. While, of course, at the same time, when reporting stronger results, we 00:00:53.025 -- 00:00:57.828 do see that the risk related to the operating environment have increased. 00:00:57.828 -- 00:01:02.474 And we aim at also describing that how do we see the current situation, especially when 00:01:02.474 -- 00:01:07.820 it comes to the war in Middle East area. But if I very briefly 00:01:07.820 -- 00:01:12.827 summarize the Q1 results and Pia will get 00:01:12.827 -- 00:01:14.469 you through 00:01:14.469 -- 00:01:16.752 more of the details. 00:01:16.752 -- 00:01:20.536 But if I start with the operating results, we were almost at break even. 00:01:20.536 -- 00:01:22.038 And 00:01:22.038 -- 00:01:26.296 I think that this is a remarkable improvement from Q1 last year. 00:01:26.296 -- 00:01:31.354 although we did face the industrial action already in Q1 2025. 00:01:31.595 -- 00:01:36.722...