Finnair Oyj (FNNNF) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.958 Good day, ladies and gentlemen. I'm Erkka Salonen from Finner Investor Relations, and 00:00:04.958 -- 00:00:10.687 it's my pleasure to welcome you to this Q4 2025 earnings call. 00:00:10.687 -- 00:00:16.873 I'm joined by our CEO, Turku Kuusisto, and our CFO, Pia Aaltonen-Forsell. 00:00:17.036 -- 00:00:22.044 After the presentation, we have a Q&A session, and you may present your questions 00:00:22.044 -- 00:00:27.251 either by dialing in or using the chat function of the webcast. 00:00:27.251 -- 00:00:30.102 But with these words, I hand it over to you, Turku. 00:00:30.102 -- 00:00:35.129 Thank you, Erkka. And very good afternoon to all of you joining us today. 00:00:35.129 -- 00:00:40.297 And today we have shared, in my opinion, very good news earlier 00:00:40.297 -- 00:00:44.843 when we published our Q4 report that 00:00:44.843 -- 00:00:48.849 indicated a very strong profitability development, 00:00:48.849 -- 00:00:55.258 especially driven by the continued strong demand and solid execution. 00:00:55.258 -- 00:01:00.793 Pia will discuss in short the result in in detail, 00:01:00.793 -- 00:01:05.443 but I would characterize it as a sum of multiple factors. 00:01:05.443 -- 00:01:10.750 Of course, we benefited from the lower fuel 00:01:11.075 -- 00:01:16.346 price, but at the same time when we added into the equation the increased cost 00:01:16.346 -- 00:01:21.392 from the environmental compliance other regulatory charges, I would 00:01:21.392 -- 00:01:27.544 say that the cost management and effectiveness was extremely well executed among 00:01:27.544 -- 00:01:32.574 the Finner team. At the same time, we still saw and will see a strong 00:01:32.574 -- 00:01:37.624 demand, especially in the Japanese and European markets, that performed...