Economy

Finnair warns crew strike will reduce revenue

HELSINKI (AP) — Finnair says that potential strikes by employees later this month would further weaken its full-year performance, causing an operational loss on top of a drop in revenue.

Last month, the Finnish national carrier warned that revenue this year would be below 2012 levels because of the uncertain economic climate in Europe and weaker growth in Asia. Finnair says planned 13-day walkouts by cabin crews and other personnel to speed ongoing labor negotiations would "paralyze Finnair's traffic almost completely," resulting in revenue losses of at least 60 million euros.

Struggling against high costs and tough competition from budget airlines, Finnair PLC has embarked on several cost-cutting programs, including substantial job cuts. The airline's share price closed down more than 2 percent Wednesday at 2.73 euros on the Helsinki Stock Exchange.

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