Finnair Oyj (FNNNF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, ladies and gentlemen. I'm Erkka Salonen from Finnair Investor Relations, and it's my pleasure to welcome you all to this Finnair's second quarter 2025 earnings call. I have here with me our CEO, Mr. Turkka Kuusisto, and he is joined by our CFO, Mr. Christian Pulola, for the Q&A session. I will now turn this call over to you, Turkka. Please, go ahead. Thank you, Erkka, and a warm welcome also on my behalf. As expected, the second quarter of 2025 was pretty much overshadowed by the industrial action of the Pilot Union and the Finnish Aviation Union, and the consequent industrial actions did have a significant impact on our Q2 result. All in all, Q2 came in with somewhat a modest revenue growth of 2.8%, but more importantly, we need to focus on the comparable operating result that declined to 10 million euros from the 44 of last year. In this figure, we have a negative impact of the direct consequences of the industrial action being 29 million euros. Earlier this year, we reported that Q1 faced 22 million euro of direct impact from the industrial action, and today we have estimated that we need to prepare for a 20 million euro negative impact for the Q3 results. So all in all, we are around the ballpark of 70 million euros of direct impact from the industrial action for the 2025 comparable operating result. Operationally, the industrial actions caused us to cancel some 1300 flights during the quarter that of course influenced our NPS negatively because those customers who were rerouted or rescheduled of course did face disruption and their experience was obviously lower. We intentionally decided to invest to rerouting customer care and also really prioritizing the customer experience of those customers who faced disruptions to pay, you know, to prepare for inv...