Finnair plans further cost cuts.

NORDIC BUSINESS REPORT-April 27, 2021-Finnair plans further cost cuts

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Finnair (HEL:FIA1S) has increased its savings target to EUR170m of permanent cost base reductions by 2022, the Finnish airline announced on Tuesday.

The company first announced cost saving measures in May 2020, when it said that it was targeting nearly EUR80m in permanent cost base reductions by 2022, compared to 2019 levels. This target was later raised to EUR100m and then to EUR140m.

According to Finnair, it has made good progress and will reach this target ahead of schedule. At the same time, it has identified new savings opportunities. As a result, the airline has raised its savings target by EUR30m.

Reductions are...

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