Claiming that its "situation as this relegation battle begins is stronger than many others," Finnair yesterday reported a €42 million ($54.4 million) loss for 2008 that compared to a €101.6 million profit in 2007. "Not all airlines will survive. The industry will experience an unprecedented thinning out," President and CEO Jukka Hienonen said. But he claimed that Finnair's "balance sheet and cash position are strong and its strategy is working." He warned that it is "absolutely ...

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