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Business Review January–March 2022

Article published
3.5.2022 at 10:20
Puinen kaide ja seinä, jossa on lentokoneen muotoinen valokyltti ja nuoli
The total number of passengers at Finavia’s airports was 2.7 million (0,5), showing a decrease of 431 % compared to January–March 2021. Revenues for January–March 2022 decreased by 153.4 % and amounted to EUR 64.7 (25.5) million.

At Helsinki Airport, the total number of passengers was 2.0 (0,4) million, with passengers on international flights accounting for nearly 80 per cent of this total.

A total of 0.6 million (0.1) passengers travelled through Finavia’s regional network airports in January–March 2022. The number of passengers increased due to the strong winter holiday season especially at Finavia’s airports in Lapland, where the number of passengers was 0.4 million.

Finavia’s revenues increased by 153.4 per cent during the review period and amounted to EUR 64.7 million (25.5). The increase in revenues was attributable to the significant growth of passenger and flight volumes. Finavia’s profitability improved in January–March 2022. The operating margin before extraordinary items improved by 103.4 per cent and was EUR 0.5 (-14.8) million. The operating profit before extraordinary items was EUR -28.2 million (-40.9), an increase of 31.1 per cent.

Finavia continued the measures initiated in 2021 to promote the recovery of the company’s business. The objectives were to safeguard the company’s financial position, enable the resumption of air traffic and build the well-being and future of the company’s personnel. Health security measures continued at airports as part of passenger processes.

At the end of February, Russia started a war against Ukraine which resulted in the EU countries and the United States to impose sanctions against Russia. As a counter-sanction, Russia closed its airspace to airlines from EU Member States, including Finland. If prolonged, the closure of Russia’s airspace may have a significant impact on Asian transfer travel and Finavia’s business.

Finavia’s Helsinki Airport investment programme, which is worth over one billion euros and is implemented over a period of 10 years, progressed faster than originally scheduled in January–March 2022. Starting from March, check-in and security control services began to be relocated to the newly completed extension. Finavia introduced modern security control equipment that significantly improves the smoothness of travel. Alteration work continued in the old part of Terminal 2. Helsinki Airport development programme will be completed in 2023.

Finavia decided to invest EUR 3 million in the renovation of Savonlinna Airport. Renovation work and upgrades will be carried out at the airport in summer 2022 with the aim of extending the life of the runway and improving the airport’s energy efficiency.

To promote the progress of the company’s climate programme, Finavia continued to increase the use of renewable energy and improve energy efficiency. The climate impacts of airports are largely attributable to the heating of buildings and the energy consumption of vehicles.

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