Finnair has trimmed its planned capacity increase for 2026 due to the cancellation of services to the Middle East.
The carrier said in its latest earnings update that it now planned to increase capacity this year by 1 per cent year-on-year, as measured by available seat kilometres (ASK) – down from a previously planned 3 per cent rise. Despite this, Finnair is predicting an overall 7 per cent year-on-year rise in passenger numbers in 2026.
The airline also slightly upgraded its revenue forecast for the full year by €100 million to between €3.4 billion and €3.5 billion compared with its previous update in April. Operating profit is predicted to range from €120 million to €190 million in 2026, although this guidance is “based on the assumption that there will be no significant disruptions in fuel availability”.
Finnair increased revenue by 16.4 per cent year-on-year to €916.7 million for the second quarter of 2026, with a comparable operating profit of €78.4 million – up from €10.3 million in Q2 of 2025, which was impacted by industrial action by airline staff.
In its statement, Finnair said that international conflicts, global political instability and potential trade wars were causing “significant uncertainty in the operating environment”.
“In particular, the possible prolongation of the war and peace negotiations in the Middle East pose risks related to the price and availability of fuel, which, if realised, could have a negative impact on Finnair’s capacity and financial result,” added the airline.
Finnair said that a 10 per cent increase in average fuel prices for the next six months could lead to a €18 million reduction in its operating profit, or a drop of €38 million if this price increase persisted for 12 months. These figures account for the impact of Finnair’s fuel hedges.