May 18, 2020 / 11:10 AM / 7 days ago

Finnair says it will open key Asia routes in July

HELSINKI (Reuters) - Finnish flag carrier Finnair (FIA1S.HE) said on Monday it would start to operate flights to its key Asian destinations in China, Japan and elsewhere from July as it starts to reopen routes closed due to the new coronavirus.

“Our intention is to operate approximately 30% of our normal amount of flights in July,” Finnair Chief Commercial Officer Ole Orver said in a statement.

Finnair has said it expects to lose around 2 million euros ($2.16 million) each day this quarter as about 90% of its flights are grounded.

Finnair, which plans to raise 500 million euros through a rights issue larger than its market cap later this quarter, said it also plans to re-launch additional flights on its European routes in July.

“We expect aviation to recover gradually, starting in July,” Orver said.

On its mainstay Asian routes Finnair will start flights in July to Beijing, Hong Kong, and Shanghai in Greater China subject to government approval; to Nagoya, Osaka and Tokyo Narita in Japan; and to Singapore, Seoul and Bangkok.

In August, it will start flights to Delhi and New York.

Shares in Finnair were 1.9% higher at 3.09 euros in afternoon trading in Helsinki.

Reporting by Tarmo Virki and Anne Kauranen; Editing by Louise Heavens/Mark Heinrich

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