February 28, 2020 / 7:53 AM / a month ago

Finnair warns of significantly lower profit due to coronavirus

Feb 28 (Reuters) - Finnair issued a profit warning on Friday due to coronavirus, expecting its comparable operating profit to be significantly lower in 2020 than last year.

“Finnair currently estimates that the coronavirus situation will decrease demand resulting in a negative impact on revenue for Q2 2020,” the Finnish national carrier said in a statement.

The company withdrew its capacity guidance of approximately 4% growth for 2020, planning to adjust it over the next months, and said it would evaluate how to adjust its costs by 40-50 million euros ($43.5-54 million). (Reporting by Anne Kauranen; editing by David Evans)

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