Currencies undermine Finnair's nascent profitability in Asia
Skift Take
The first-quarter loss was a meaningful one for Finnair, which had just posted its first profit in five years; however, regional demand will continue to climb and a Asian network should increase long-term profits.
Finnair Oyj said a declining yen helped plunge the carrier to a first-quarter loss as exposure to Japan weighed on earnings, sending the shares down the most in 1 1/2 years.
“The biggest negative issue during the first quarter was yen’s weakening,” Ville Iho, Finnair’s interim chief executive officer, said at a briefing today. Most of the company’s sales in Japan are made in the local currency, he said.
Finnair posted its first annual profit since 2007 las
