Finnair Facing Heavy Financial Losses Over Russian Airspace Ban

The EU closed its airspace to Russian flights after Moscow launched its special military operation in Ukraine on 24 February. In retaliation, Russia banned the airlines of 36 countries from its skies.

Finland's flag carrier - Finnair - has been suffering serious financial losses, the Helsingin Sanomat newspaper reported, adding that the airline's operating loss amounts to €133Mln ($140Mln), including fuel cost expenses worth €51 million.

According to the report, Finnair's fuel costs have nearly doubled, from 30 percent to 55 percent, since late 2021. Moreover, the sanctions war, which the West declared on Russia shortly after the start of the special military operation in Ukraine, resulted in airspace closures which forced Finnair to change air routes.

Before the ban, Finland used to enjoy the shortest distances to China, Japan and South Korea. Now the journey from Helsinki to Tokyo takes 13 hours instead of the usual nine. Flights to the Asia-Pacific region used to make up about 50 percent of Finnair's profit. Also, the loading of Finnair planes has decreased because of the absence of Russian tourists.

The European Union - as well as a number of other states - closed its airspace to Russian flights in response to a special military operation in Ukraine, launched by Russian President Vladimir Putin on 24 February. Moscow responded in kind, banning the airlines of the EU's 27 member states and nine other countries from using its airspace. The move resulted in a dramatic revision of traditional routes from Europe to Asia.

The countries forbidden to fly through Russia's airspace are: Albania, Anguilla, Austria, Belgium, Bulgaria, British Virgin Islands, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Ireland, Iceland, Italy, Jersey, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.