Finnair Oyj (FNNNF) Q3 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 third quarter 2025 earnings call. I have here with me our CEO, Mr. Turku Kuusisto, and our new CFO, Mrs. Pia Aldonen-Forsell. I will now turn this call over to you, Turkkka. Please, go ahead. Thank you, Erkka, and very good afternoon to all of you joining this earnings call. The busiest season is now behind us, and we are happy to report that we did deliver a solid Q3 financial performance, especially considering the negative impact from the industrial action. As you might recall, it took until mid-July to get the final CLA concluded and behind us. Before that, the quarter was shadowed by three strike days that led into cancellation of more than 300 flights. Today, we are reporting some 18 million euros of direct impact from the industrial action. Of course, for us, it's been very difficult to evaluate the so-called indirect impact, but they are in millions of euros. If we take the comparable operating result of 51 million euros and calculate back 18 million euros plus something from the indirect side, I guess that we can all agree that we would have been in part with the last year performance or even above. The revenue increase was 2% and that was also influenced by the cancellations and the indirect impact of the industrial action and then unfortunately we faced some unexpected maintenance slash AOG issues during the quarter that continued to impact negatively due to ASK and revenue development. But it's worth mentioning that after we got the CLAs and disruptions behind us, our quality of our service and flight regularity returned to a very high level almost immediately, because the weeks followed by the industrial actions act...