FNNNF - Finnair Oyj (FNNNF) Q2 2024 Earnings Call Transcript
2024-07-19 14:53:08 ET
Finnair Oyj (FNNNF)
Q2 2024 Earnings Conference Call
July 19, 2024 06:00 AM ET
Company Participants
Erkka Salonen - IR
Turkka Kuusisto - CEO
Kristian Pullola - CFO
Conference Call Participants
Jaakko Tyrväinen - SEB
Mateo Salcedo Lopez - ODDO BHF
Joonas Ilvonen - Evli
Presentation
Erkka Salonen
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 Second Quarter 2024 Earnings Call. I have here with me our new CEO, Mr. Turkka Kuusisto, and he is joined by our CFO, Mr. Kristian Pullola, for the Q&A session. I will now turn this call over to you, Turkka. Please go ahead.
Turkka Kuusisto
Thank you, Erkka. Good afternoon and a warm welcome to our Second Quarter's Earnings Call. Also on my behalf, so my name is Turkka Kuusisto, as mentioned and I'm the new CEO of Finnair. I've been in the company now soon for three months and maybe it goes without saying that I'm very happy to be here today to discuss with you when it comes to our second quarter results. The second quarter was yet another busy and in many ways, good quarter for Finnair.
The number of passengers increased by 5% and we in total carried 3 million passengers in our flights during the second quarter. But as the title of our report indicates that the airline industry and market environment is normalizing after a very strong period of demand and therefore, we faced decreasing unit revenues that consequently led into declining profitability versus the record quarter -- second quarter of 2023. As we communicated earlier, we have added capacity into our own network by calling back four of our narrowbody aircrafts that were deployed to a so called wet leases out arrangements with the British Airways and that capacity was deployed to our own network in the end of the first quarter....
Finnair Oyj (FNNNF) Q2 2024 Earnings Call Transcript