Finnair highlights cost savings success, outlines vision for profitable growth in 2014 Annual Report
Finnair Plc Stock Exchange Release 27 February 2015 12:00 EET
Finnair has published its Annual Report for 2014, measuring and accounting for the financial, economic, social and environmental performance of the Finnair Group, as well as identifying and explaining the strategic business ramifications of that performance.
The major highlights of 2014 include the successful cost-savings agreements reached with the company’s employee groups that enabled Finnair to complete its ambitious program, begun in 2011, to permanently reduce annual costs by 200 million euros. As part of an effort to sustainably grow revenue while also controlling costs, Finnair also introduced several new product upgrades and service updates and began implementing its new commercial strategy. The company also began extensive preparations for the delivery of 19 Airbus A350 XWB aircraft, the first four of which are due to enter service in the second half of 2015.
On 11 February Finnair published its Financial Statements for 2014, as well as the Report of the Board of Directors, Auditor’s Report, Remuneration Statement and Corporate Governance Statement. The Annual Report, which includes these documents and contains no new material information, is prepared according to G3 disclosure guidelines established by the Global Reporting Initiative (GRI). Shareholders, investors, analysts, media, customers, employees, other interested stakeholders and the general public at large comprise the report’s intended audience.
Finnair has reported on environmental sustainability since 1997, and in 2008 became one of the first airlines to report according to GRI guidelines. The GRI, formed with the support of the United Nations Environment Program, is the most widely recognised international authority on sustainability reporting.
“The Annual Report is our premier forum for open, transparent engagement with all stakeholders about Finnair’s performance and value creation,” says Finnair CEO Pekka Vauramo. “In addition to detailed information and analysis, the report also takes into account larger commercial, regulatory and social trends, and explores how Finnair can succeed in the marketplace today and tomorrow. The report is addressed to all with a stake in Finnair and who care for its future.”
The report is available digitally (PDF format) at www.finnairgroup.com/en
Finnair communications, tel. +358 9 818 4020, comms(a)finnair.com