April 27, 2012
Finnair has warned of significant losses in the first half of the year due to record-high fuel prices, although its first-quarter loss was smaller than markets expected.
Finland's troubled national carrier said on Friday its operational loss in January-March was EUR€25 million (USD$33.07 million).
It said profitability is likely to improve in the second half of the year. The airline defines its 'operational' result as earnings before interest and tax (EBIT) excluding non-recurring items, capital gains, and changes in the fair value of derivatives and some exchange rates.
