The job cuts are part of a strategic effort to restore profitability to pre-pandemic levels and transition to operating with a smaller capacity.
Our business has been impacted by Russia's invasion of Ukraine and the closed Russian airspace. In addition to other actions to restore Finnair's profitability, we have to discuss measures that are the most painful for our employees, said Topi Manner, chief executive of Finnair.
The airline is planning to set up a social support programme for employees who could lose their jobs due to the downsizing. The negotiations are scheduled to begin on October 5th.
In September, Finnair announced that it intends to balance its route network and downsize its fleet in order to be part of a strategic re-think necessitated by the war in Ukraine. The airline has set a goal of reducing unit costs by 15 per cent from the level of 2019 and achieving comparable earnings before taxes and other adjustments of five per cent by 2024.
The company has taken cost-cutting measures worth over 200 million euro over the past 30 months.