Finnair posts $24.5 million first-quarter loss

Finnair reported a first-quarter loss of €18.6 million ($24.5 million), reversed from a €3.1 million profit in the year-ago period, as "the potential for profitability has run into the sand due to feeble demand and a collapse in price levels," President and CEO Jukka Hienonen said. Stating that the airline industry's first-quarter results "make for sad reading," Hienonen said that while Finnair cut capacity, "cost flexibility, particularly in scheduled passenger traffic, is ...