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Last month, the airline announced a new strategy in order to return to profitability after being hit by a triple blow from the COVID-19 pandemic, Russian airspace closure and high fuel prices.
Finnair began seeking new commercially-feasible routes after the closure of Russian airspace due to the war in Ukraine cut off its previously lucrative Asian connections via a short northern route.
The airline reported a comparative quarterly operating profit of 35.2 million euros ($35.1 million) for the third quarter, compared to a 109.1 million euro loss a year earlier.
“Nonetheless, the result for the period was still negative, -37.2 million euros, due to high financial expenses resulting from heavy indebtedness and exchange losses caused by the strong dollar,” Finnair’s Chief Executive Topi Manner said in a statement.
Revenue increased by 261% in July-September from a year earlier to 719.2 million euros, the company said.
Finnair has said it is trying to build a geographically more balanced network by increasing cooperation with partner airlines as well as by adding more flights to India, the Middle East and North America via its home hub Helsinki.
($1 = 1.0021 euros)
