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Finnair plunges to Q2 loss after pandemic grounds flights

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Finnair plunged to a second-quarter loss as the coronavirus pandemic kept most flights grounded, and said it would make a similar loss this quarter, despite an increasing number of flights.

[HELSINKI] Finnair plunged to a second-quarter loss as the coronavirus pandemic kept most flights grounded, and said it would make a similar loss this quarter, despite an increasing number of flights.

"As ramp-up is an investment, and there are costs associated with it, and Finnair will be running with clearly reduced capacity, the comparable operating loss in Q3 will be of a similar magnitude than in Q2," it said on Friday.

Finland's flagship airline, which is 55.8  per cent state-owned, made an underlying operating loss of 174.3 million euros (S$280.2 million) in April-June, compared with a 47.2 million profit a year earlier.

REUTERS

 

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