Finnair rewrites strategy as Russia’s sky stays off limits

Bloomberg

Finland’s national carrier Finnair is working to overhaul its strategy in an admission that access to Russian skies, which underpinned its previous focus on Asia, will likely not be restored any time soon.
“There’s no end in sight for the war in Ukraine,” CEO Topi Manner said on a conference call following second-quarter earnings. “We’re preparing to see Russia’s skies closed to us for a long time, for years.”
Combined with the rapidly rising cost of fuel and the changing competitive environment, as well as years of losses stemming from the pandemic and related travel restrictions, the airline now needs a new strategy and a “significant structural renewal,” the Vantaa, Finland-based company said.