Finnair is on the verge of bankruptcy

Created on 16.06.2022 12:43

The Finnish largest airline Finnair is on the verge of bankruptcy due to flight bans over Russian territory, TASS writes with reference to Helsingin Sanomat.

Thus, the flight time of Finnair aircrafts was extended by 40% on key routes to Southeast Asia (China, South Korea and Japan), thereby increasing costs of fuel, staff and navigation. The operating loss has reached 133 million euros since the beginning of the year, whereby 51 million euros is accounted for fuel prices.

Following other European airlines, Finnair cannot compete with Chinese carriers operating over Russia and with airlines from oil-exporting countries that are not negatively affected by rising fuel prices.

2117 views