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Finnair

#6537

Rank

$609.95M

Marketcap

FI Finland

Country

Finnair
Leadership team

Mr. Topi Manner M.Sc. (Pres, CEO & Member of Exec. Board)

Mr. Kristian Pullola M.Sc. (CFO & Member of Exec. Board)

Mr. Sami Kalle August Sarelius L.L.M., LLM (Sr. VP, Gen. Counsel, Sec. & Member of Exec. Board)

Products/ Services
Hardware
Number of Employees
1,000 - 20,000
Headquarters
Helsinki, Southern Finland, Finland
Established
1923
Revenue
Above - 1B
Traded as
FIA1S.HE
Social Media
Overview
Location
Summary
Finnair Oyj engages in the airline business in Europe and Asia. It also offers package tours under the Aurinkomatkat-Suntours and Finnair Holidays brand names. As of December 31, 2021, the company operated a fleet of 60 aircraft, which included 25 wide-body and 35 narrowbody aircraft. In addition, it provides technical, catering, and financial business services. The company was incorporated in 1923 and is headquartered in Vantaa, Finland.
History

Founding

In 1923, consul Bruno Lucander founded Finnair as Aero O/Y . The company code, "AY", stands for Aero Osake-yhtiö . Lucander had previously run the Finnish operations of the Estonian airline Aeronaut. In mid-1923 he concluded an agreement with Junkers Flugzeugwerke AG to provide aircraft and technical support in exchange for a 50% ownership in the new airline. The charter establishing the company was signed in Helsinki on 12 September 1923, and the company was entered into the trade register on 11 December 1923. The first flight was on 20 March 1924 from Helsinki to Tallinn, Estonia, on a Junkers F.13 aircraft equipped with floats. The seaplane service ended in 1936 following the construction of the first aerodromes in Finland.

World War II

Air raids on Helsinki and other Finnish cities made World War II a difficult period for the airline. Half of the fleet was requisitioned by the Finnish Air Force and it was estimated that, during the Winter War in 1939 and 1940, half of the airline's passengers from other Finnish cities were children being evacuated to Sweden.

Immediate postwar period

The Finnish government wanted longer routes, so it acquired a majority stake in the company in 1946 and re-established services to Europe in November 1947, initially using the Douglas DC-3. In 1953, the airline began branding itself as Finnair. The Convair 440 twin-engined pressurised airliner was acquired from January 1953 and these faster aircraft were operated on the company's longer routes as far as London.

Jet Age

In 1961, Finnair joined the jet age by adding Rolls-Royce Avon-engined Caravelles to its fleet. These were later exchanged with the manufacturer for Pratt & Whitney JT8D-engined Super Caravelles. In 1962, Finnair acquired a 27% controlling interest in a private Finnish airline, Kar-Air. Finnair Oy became the company's official name on 25 June 1968. In 1969, it took possession of its first U.S. made jet, a Douglas DC-8. The first transatlantic service to New York was inaugurated on 15 May 1969. In the 1960s, Finnair's head office was in Helsinki.

Finnair received its first wide-body aircraft in 1975, two DC-10-30 planes. The first of these arrived on 4 February 1975 and entered service on 14 February 1975, flying between Helsinki and New York, later between Helsinki and Las Palmas.

Finnair created Finnaviation was established in 1979. It was formed from the reorganisation of Wihuri OY Finnwings and its merging with Nordair OY. Scheduled domestic services began in October 1979. In the early 1980s Finnair held a 60% shareholding. Finnaviation was eventually completely merged into Finnair.

Expansion

In 1981, Finnair opened routes to Seattle and Los Angeles. Finnair became the first operator to fly non-stop from Western Europe to Japan, operating Helsinki–Tokyo flights with a modified McDonnell Douglas DC-10-30ER in April 1983. Until then, flights had to go via Moscow or Anchorage due to Soviet airspace restrictions, but Finnair circumvented these by flying directly north from Helsinki, over the North Pole and back south through the Bering Strait, avoiding Soviet airspace. However, Finnair did not have to make a roundabout because of the Soviet regulation on this route, but the Japanese authorities demanded it . The aircraft was fitted with extra fuel tanks, taking 13 hours for the trip. The routes through Soviet airspace and with a stopover in Moscow also took 13 hours, but flights with a stopover in Anchorage took up to 16 hours, giving Finnair a competitive edge. In the spring of 1986, Soviet regulators finally cleared the way for Air France and Japan Airlines to fly nonstop Paris-Tokyo services over Soviet airspace, putting Finnair at a disadvantage.Finnair launched a Helsinki-Beijing route in 1988, making Finnair the first Western European carrier to fly non-stop between Europe and China. In 1989, Finnair became the launch customer for the McDonnell Douglas MD-11, the first of which was delivered on 7 December 1990. The first revenue service with the MD-11 took place on 20 December 1990, with OH-LGA operating a flight from Helsinki to Tenerife in the Canary Islands.

Subsidiary airlines

In 1997, the subsidiaries Kar-Air and Finnaviation became wholly owned by Finnair, and were integrated into the mainline operations. On 25 September 1997, the company's official name was changed to Finnair Oyj.

In 1999, Finnair joined the Oneworld airline alliance. In 2001, Finnair reused the name "Aero" when establishing Aero Airlines, a subsidiary airline based in Tallinn, Estonia.

In 2003, Finnair acquired ownership of the Swedish low-cost airline, FlyNordic, which operated mainly within Scandinavia. In 2007, Finnair sold all its shares in FlyNordic to Norwegian Air Shuttle. As part of the transaction, Finnair acquired 4.8% of the latter company, becoming its third largest shareholder. Finnair later sold their shares in 2013.On 8 March 2007, Finnair became the first airline to order the Airbus A350 XWB aircraft, placing an order for 11 Airbus A350 XWB , with delivery started in 2015.

Labour disputes and restructuring

Finnair has suffered from many labour disputes in this period, resulting from cost-cutting measures prompted by competition from budget airlines.On 1 December 2011, Finnair transferred its baggage and apron services to Swissport International as per a five-year agreement signed on 7 November 2011.As of 2022, it transported about 2.9 million passengers, a substantial decrease from 2019 as COVID-19 pandemic shut down airports and airlines due to travel restrictions. At the end of 2022, the airline employed 5,325 people on average.

Mission
Finnair's mission is to provide the people of Finland and other passengers with safe and reliable air transportation, innovative travel solutions, and quality customer service with a focus on sustainability.
Vision
Finnair's vision is to be the leading long-haul network airline in Northern Europe by providing smooth, convenient, and sustainable flying experiences to Finnair's customers.
Key Team

Mr. Ole Orvér (Chief Commercial Officer & Member of Exec. Board)

Mr. Jaakko Schildt B.Sc., M.B.A., MBA (Sr. VP of Operations & Member of Exec. Board)

Ms. Christine Rovelli M.B.A. (Sr. VP of Strategy and Fleet & Member of the Exec. Board)

Ms. Elina Strahlman M.Sc. (VP of Group Accounting and Taxation)

Ms. Johanna Karppi L.L.M., Ll.m. (Sr. VP of People & Culture and Member of Exec. Board)

Ms. Paivyt Tallqvist M.Sc. (Sr. VP of Communications & Member of Exec. Board)

Mr. Antti Kleemola M.Sc. (Chief Information Officer & Member of Exec. Board)

Recognition and Awards
Finnair has won numerous awards, including being named the World's Leading Airline at the World Travel Awards four times consecutively from 2007 to 2010, the Airline of the Year at the Air Transport World Global Airline Awards in 2015, the World's Most Sustainable Airline at the Skytrax World Airline Awards in 2018, and many more.
References

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Finnair
Leadership team

Mr. Topi Manner M.Sc. (Pres, CEO & Member of Exec. Board)

Mr. Kristian Pullola M.Sc. (CFO & Member of Exec. Board)

Mr. Sami Kalle August Sarelius L.L.M., LLM (Sr. VP, Gen. Counsel, Sec. & Member of Exec. Board)

Products/ Services
Hardware
Number of Employees
1,000 - 20,000
Headquarters
Helsinki, Southern Finland, Finland
Established
1923
Revenue
Above - 1B
Traded as
FIA1S.HE
Social Media