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Finnair downgrades 2013 guidance expecting operational loss, falling turnover in full year
Reported by: Associated Press
Reported: Thursday, October 24, 2013 11:52 AM EDT
Finnair says the uncertain economic climate in Europe and weaker growth in Asia are expected to hit its full-year performance, with turnover falling to below 2012 levels and the possibility that it will show an operational loss.
The airline's previous guidance said it expected an operational profit this year.
Finnair PLC, which is due to release its third-quarter result Friday, has embarked on several cost-cutting programs, including substantial job cuts, as it struggles against high costs and tough competition from budget airlines.