If the sum is indeed that small, then it indicates a considerable lack of overall perspective on Kuusisto’s part.
3 Likes
Yes, in this contract sector, Finnair employs about 1000 people, and if calculated based on median salaries, these are the sums involved.
There are also other companies, and from there probably comes another million, which likely flows into prices through indices with a delay, at least in part.
2 Likes
Alright, finally IAU and PALTA managed to agree on something. The announced strikes have been cancelled. Especially great for air travelers. Hopefully Finnair can now get a few good summer months under its belt!
Solution to the air traffic labor dispute – strikes are cancelled | News in brief | Yle Lentoliikenteen työriitaan sovinto – lakot peruuntuvat | Uutisia lyhyesti | Yle
3 Likes
Unclear situation. IAU cancels strikes announced for July, salaries will be increased, but the core issue remains unresolved.
So now there is industrial peace for 18 months, in my opinion, the situation is not unclear.
It’s a bit amusing to hear IAU’s demands that since they missed out on pay raises during the pandemic, they should now get them retroactively.
The fact is that across the board during the pandemic, salaries practically did not rise, and no one is complaining about that anymore. In the public sector (Wellbeing Services Counties), salaries have been rising constantly, but in other sectors, real wages have DECREASED.
Why would IAU members need more than others? Don’t understand, can’t comprehend.
The saddest part of the whole story is that the state as an owner is toothless in solving these problems. In international companies, the solutions would have been quick and harsh…
2 Likes
No, they just didn’t take the agreed 2% raises due to Finnair’s situation.
And now they would have wanted that 2% to be taken into account in this solution, but there were no retroactive demands.
There is probably an agreement in the safe that will resolve that 2% by developing salary groups. This is a common practice, but newspapers don’t really write about it.
4 Likes
Could you tell me a bit more about these “common” safe agreements and the procedure for developing salary groups?
1 Like
There is the public protocol from which the process is visible.
5 Likes
Looks like perfectly normal, demanding group work that is being developed in the textual parts of the negotiations, as it should be. I don’t really understand the decision-making power of the shop steward and employer representative, but it’s none of my business what all people agree to.
Good if there is peace, even a fragile one.
1 Like
It differs from the normal in that no money has been allocated for it. Usually, a local sum is reserved for these, which is deducted from the general increase distributed to everyone, but not this time.
Therefore, I suspect that there is probably a separate protocol where it has been agreed upon.
1 Like
Finnair will report its Q2 results tomorrow, and here are Antti’s and Kaisa’s preliminary comments. 
Finnair ranked Europe’s worst airline
"
Consumer portal Flightright evaluated Europe’s 20 largest airlines based on factors such as reliability, payment processing, delays, and customer satisfaction. The results showed that Finnair, Vueling, and Ryanair performed the worst. Discover Airlines, Eurowings, and Iberia, on the other hand, ranked at the top.
Finnair received an overall rating of only 2.48 out of five stars, placing it in last position. The airline’s reliability was particularly disappointing, as it received only 1.5 stars for delays and cancellations.”
16 Likes
I wonder if a million euros saved was worth that, then…
8 Likes
Good summer morning from Finnair! The awaited Q2 result is now out.
Revenue grew slightly, but the direct negative impact of industrial action on the second quarter’s comparable operating result was approximately 29 million euros. However, operational quality was good, and we were able to operate 94% of flights as planned. Agreements have finally been reached on all collective labor agreements, so we can return to normal, reliable operations.
The full-year guidance, excluding the direct impacts of industrial action, remains unchanged. However, we specify that based on current information, the comparable operating result is estimated to be closer to the lower end of the given range due to weaker-than-expected demand in North American traffic and the indirect effects of industrial action on demand more broadly.
12 Likes
For my part, I hope for a strong market reaction towards property, if one would then dare to invest in a notoriously low-margin and heavily competitive industry.
My view is that tourism directed at Finland will rise in the coming years, if not wildly, then steadily. Most importantly, there will also be demand for Finland’s mild summer, now that it’s becoming almost impossible to live in Central Europe during the hottest periods. The Northern Lights and Santa Claus naturally fill the planes in winter.
Now we can only hope that the government takes a line where Finnair is shamelessly favored over other European airline companies; this would boost Finnair’s results.
2 Likes
Am I the only one or do others also feel that Finnair’s interim report is really unclear? Profits, results, and losses seem to get mixed up. It’s somehow difficult to get a clear picture of profitability.
Hi @Marwell and thanks for the direct feedback. The impact of industrial action has brought its own difficulties to reporting, so if any point seems unclear, we are happy to help clarify it. You can contact us directly.
Regards, Erkka
9 Likes
Here’s Turkka’s interview regarding the results Awaiting a strategy update.
5 Likes
Finnair’s strategies have been quite sad to read about. Not because they are bad or poorly planned, not at all. But because time and again they seem to collapse due to reasons over which Finnair itself has no power whatsoever to influence. Any company’s nightmare, and on top of that, these strikes.
-
Asia strategy: Fly over a terrorist state on a short route to Asia, offering many European destinations with one transfer. Lo and behold, they decided to invade Ukraine and the airspace closed, there went that strategy.
-
Leasing aircraft to Australia strategy: Now that we have this wide-body capacity, let’s lease it to Australia where there is a need. But what about our pilots now? They started striking! We can’t provide the agreed service, so we’ll stop. There went that strategy.
-
USA strategy: Now that we still have this wide-body capacity, let’s offer a comprehensive network of destinations and flights with good schedules to the US and expand the network as demand grows. Oh, lo and behold, a type of president came into power whose “deals” and other shenanigans made it so no one wants/dares to travel to the USA anymore unless absolutely necessary - there went that strategy too.
I must also mention the “Europe’s worst airline” comment, which isn’t funny but falls into the same category as the previous ones.
Canada and/or South American destinations are probably untried. Perhaps in the next strategy, they could also start exploring the possibility of combining all airlines in the Baltics and Nordics into one company and marrying this company to some giant (KLM/AF, BA, or Lufthansa). I don’t know if size is an advantage in the airline business, but the current situation is quite unsustainable from the perspective of both taxpayers and investors.
9 Likes