Finnair Oyj (FNNNF) Q2 2026 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 to this Q2 2026 earnings call. I'm joined by our CEO, Turkka Kuusisto, and our CFO, Pia Aaltonen-Forsell. After the presentation, you may ask questions either by dialing in or by using the webcast chat function, and you can already send the questions during the presentation. But with these words, I hand it over to you, Turk. Please, go ahead. Thank you Erkka and very good afternoon to all of you and welcome to this result presentation event. Earlier this morning we have reported very strong performance during the second quarter of 26. which is kind of a continuation of the two earlier quarters Q4 2025 being the all-time high Q4 and also strong performance continued during the first quarter. What is kind of especially important to address when it comes to the second quarter performance in my opinion is actually rather Holistic success in multiple areas. For instance, the revenue growth of 16.4% comes across the all service lines that we have. Passenger revenue grew by some 15%. Ancillary sales more than 20%. And cargo really did overperform our expectations by 40% growth. And also Aurinko Matka did deliver a high single digit growth. Then when we translate the 16% revenue growth into comparable operating result, which was 78 million euros, it's very important to address the comparison versus last year. Last year we reported some 10 million euros of comparable operating EBIT. But we need to then factor back or add back the cost of the industrial action that we faced last year. Based on our best estimate, the cost of our impact of industrial action last year during the second quarter, there are some 28 million euros. So if we add that back operationally...