Finnair Traffic Performance in March 2022

Finnair Plc                Investor News              6 April 2022 at 9:00 a.m. EEST

Clear improvement in passenger traffic figures year-on-year and even month-on-month despite the Russian airspace closure; cargo figures affected by the closure but remain strong

In March, Finnair carried 614,500 passengers, which was 611.7% more than in March 2021. The number of passengers in March 2022 was 38.7% more than in February 2022 (month-on-month figures are not fully comparable as there were three fewer days in February).

The COVID-19 impact, including the strict travel restrictions imposed by several countries due to the Omicron variant, still affected passenger traffic figures. It was particularly visible in the Asian figures. The Russian airspace was closed at the end of February due to the counter sanctions related to the war in Ukraine, which resulted in route and frequency cancellations in Asian traffic in March. Thanks to robust demand for cargo, Finnair was, however, able to continue operating to most of its Asian destinations despite the longer routings. Thus, the negative impact of the airspace closure on Asian passenger traffic figures, which were already affected by the pandemic, was moderate in March. The reported traffic figures do not take into account longer routings.

The overall capacity, measured in Available Seat Kilometres (ASK), increased in March by 454.7% year-on-year and by 10.0% month-on-month. Finnair operated, on average, 213 daily flights (cargo-only included), which was 187.8% more than in March 2021 and 8.7% more than in February 2022. The differences between capacity figures compared to March 2021 are explained by the longer average stage length of flights operated and by the larger gauge of aircraft operated. Finnair's traffic, measured in Revenue Passenger Kilometres (RPKs), increased by 1,085.1% year-on-year and by 31.8% month-on-month. The Passenger Load Factor (PLF) increased by 28.0% points year-on-year and by 8.7% points month-on-month to 52.6%.

The ASK increase in Asian traffic was 155.7% year-on-year. Finnair restarted its North Atlantic passenger operations in March 2021 with flights to New York, whereas in March 2022, it operated to many US destinations from both Finland and Sweden. Therefore, the North Atlantic capacity increased by 3,489.8% year-on-year. In European traffic, the ASKs were up by 686.9%. The ASKs in domestic traffic increased by 186.8%.

RPKs increased in Asian traffic by 934.9%, in North Atlantic traffic by as much as 22,301.9% due to the abovementioned reasons, in European traffic by 1,264.2% and in domestic traffic by 260.9% year-on-year.

The PLF was 40.0% in Asian traffic and 33.2% in North Atlantic traffic but both were supported by the strong cargo operations. The PLF was 68.7% in European traffic and 74.1% in domestic traffic, both close to pre-pandemic levels.  

Passenger numbers increased in Asian traffic by 963.5%, in North Atlantic traffic by as much as 19,533.8% due to the aforementioned reasons, in European traffic by 875.8% and in domestic traffic by 274.6% year-on-year.

The Russian airspace closure and the related route and frequency cancellations were visible in March cargo figures especially when comparing to February 2022. In March, available scheduled cargo tonne kilometres increased by 287.7% year-on-year (decreased by 10.5% month-on-month) and revenue scheduled cargo tonne kilometres increased by 181.4% (decreased by 8.4% month-on-month), both due to the impact of the COVID-19 pandemic on scheduled flights, especially in North Atlantic and Asian traffic, in March 2021. Cargo-related available tonne kilometres increased by 39.0% year-on-year (decreased by 24.1% month-on-month) and revenue tonne kilometres increased by 10.8% (decreased by 25.9% month-on-month) and both include the cargo-only flights, operated mainly between Europe and Asia, as well as between Europe and North America. Cargo-only tonnes decreased by 79.7% year-on-year (decreased by 69.5% month-on-month). Strong demand for cargo capacity, however, continued in March as the total cargo tonnes increased by 21.6% year-on-year. They decreased by 21.9% month-on-month.

In March, 85.7% of all Finnair flights arrived on schedule (93.1%).

Traffic statistics for April 2022 will be published on Thursday 5 May 2022.

* Based on average operational cargo capacity

** Including purchased traffic

• Change %: Change compared to the figures of the respective periods in the previous year (p = points, N/A = not available).
• Available seat kilometres. ASK: Total number of seats available multiplied by kilometres flown.
• Revenue passenger kilometres. RPK: Number of revenue passengers carried multiplied by kilometres flown.
• Passenger load factor: Share of revenue passenger kilometres of available seat kilometres.
• Available tonne kilometres. ATK: Number of tonnes of capacity for carriage of passengers, cargo and mail multiplied by kilometres flown.
• Revenue tonne kilometres. RTK: Total revenue load consisting of passengers, cargo and mail multiplied by kilometres flown.
• Overall load factor: Share of revenue tonne kilometres of available tonne kilometres.

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