Finavia Business Review January-June 2025

In January–June 2025, the total number of passengers on scheduled and chartered flights at Finavia’s airports was 9.9 million (9.4). The number of passengers increased by 5.5%. Finavia’s revenue increased in January–June, driven by the growth of international travel. The company’s operating result for the review period showed a profit, but the result for the financial period remained negative. During the review period, the company also announced progress towards its ambitious climate targets as Helsinki Airport reached net zero for emissions generated by its own operations.

January–June 2025 at a glance 

• Finavia’s revenue increased by 13.7% in the first half of the year and amounted to EUR 218.7 million (192.4). The increase in revenue was supported by the growth in international air travel and the acquisition of the property investment and development company Avia Real Estate during the period under review. Excluding the effect of Avia Real Estate, revenue increased by 8.4%.
• Avia Real Estate’s revenue amounted to EUR 13.1 million. Avia Real Estate has been consolidated into the Finavia Group figures as subsidiaries starting from February.
• The operating result increased and came to EUR 4.9 million (-5.1). The result for the financial period improved but remained negative at EUR -8.5 million (-15.0). The loss was particularly attributable to small regional airports, where the development of passenger volumes remained weak. Avia Real Estate weakened the Group’s result mainly due to impairment recognised on individual properties.
• During the review period, the Tax Administration adjusted the taxation of Avia Real Estate Oy for 2024. In 2025, Avia Real Estate must pay EUR 17.4 million in income tax and a tax increase in accordance with the decision. It is estimated that the tax decision will have a minor effect on Finavia’s result for the financial year 2025. Avia Real Estate appealed the decision of the Tax Administration after the review period.
• The total number of passengers on scheduled and chartered flights at Finavia’s airports was 9.9 million (9.4), of whom 8.0 million (7.4) flew on international routes.  The number of passengers on domestic flights decreased slightly and amounted to 1.92 million (1.94).  
• The total volume of domestic and international freight decreased by 1.0% to 90,988 tonnes (91,944). 
• During the reporting period, Helsinki Airport was recognised as the best airport in Europe in terms of the customer experience in the 15–25 million passenger size category. Helsinki Airport was also recognised as the best airport in Northern Europe.

The figures in brackets refer to the corresponding quarter in the previous year.

Finavia Group’s key figures

	1–6/2025	1–6/2024	Change, %	1–12/2024
Revenue, EUR million Helsinki Airport Network airports Airpro Avia Real Estate Other/eliminations	218.7 139.8 40.2 46.1 13.1 -20.5	192.4 128.9 36.5 42.1 - -15.1	13.7 8.5 10.2 9.5 - -	396.5
Operating result, EUR million Helsinki Airport Network airports Airpro Avia Real Estate Other/eliminations	4.9 18.6 -11.7 1.7 -1.0 -2.7	-5.1 7.6 -12.3 1.0 - -1.3	196.8 144.8 5.4 70.0 - -	4.0
Result for the period, EUR million	-8.5	-15.0	43.3	-4.4
Equity ratio, %	38.9	42.2		43.8
Cash flow-based investments, EUR million	30.0	18.5	62.1	49.3
Balance sheet total, EUR million	1,662.4	1,468.8	13.2	1,496.2
Average number of employees	2,170	2,005	8.2	2,041

Key figures related to air traffic   

	1–6/2025	1–6/2024
Total number of passengers, million Domestic flights International flights	9.9 1.9 8.0	9.4 1.9 7.4
Passenger load factor, %	72.9	72.1
Freight, tonnes	90,988	91,944
Number of commercial flights	98,067	94,649
Punctuality of airport operations, % Helsinki Airport Network airports	98.8 98.0	98.1 98.0

*The punctuality of airport operations describes the punctuality of Finavia’s operations, including the operability of vehicles, equipment and systems, for example. The overall punctuality of air traffic is also affected by the operations of airlines and ground handling companies, as well as the weather conditions.   

Finavia publishes monthly statistics on passengers, landings, freight and mail on its website.   

Kimmo Mäki, CEO: 

"Our revenue and operating result in the first half of the year grew in line with our expectations, driven by the growth of passenger volumes, the good development of commercial operations at airports, and good cost control. At the end of January, we completed a transaction by which we increased our holding in AVIA Real Estate from 49% to 100%. The arrangement strengthens Finavia's strategic position in property management in the vicinity of Helsinki Airport and supports the comprehensive development of the airport area.

In the first half of 2025, a total of 9.9 million passengers passed through Finavia’s airports, which represents a year-on-year increase of 5.5%. Of these, 8.1 million passengers passed through Helsinki Airport, while 1.9 million passengers passed through the network airports.

During the first half of the year, the growth of air travel was focused on international air travel, while travel on domestic routes decreased slightly.

Despite the record-breaking winter season at Finavia's airports in Lapland, the Network Airports business remained loss-making, particularly due to the low number of flights and passengers at small airports.

During the review period, the Finnish Government decided that regional flights to Joensuu, Jyväskylä, Kajaani, Kemi-Tornio, Kokkola-Pietarsaari, Savonlinna and Pori will continue until early 2028. The state subsidies for purchased traffic that were decided on in the Government's mid-term policy review are allocated in full to the airline that operates the flights, and the airport operations are not covered by subsidies. Operations at the airports that serve purchased traffic generate approximately EUR 20 million in negative cash flow annually for Finavia due to the low number of regional flights and their low passenger load factors. The company considers it important that decisions on subsidised air traffic also take into account the impact of the decisions on Finavia's finances.

We have continued our purposeful efforts related to sustainability, the passenger experience and the development of commercial services, and our work has produced good results that are reflected in a number of indicators.

We reached a significant milestone in our long-term efforts to promote sustainable development when Helsinki Airport achieved net zero emissions. Net zero means that we reduce the carbon emissions caused by our operations as much as technically and economically feasible. Only about 20 airports around the world have reached net zero status under the ACA programme, and five of them are Finavia airports. Our airports in Rovaniemi, Ivalo, Kittilä and Kuusamo were the first to reach net zero status. The emissions of Helsinki Airport’s own operations are mainly generated by the energy consumption of the airport infrastructure, in which the company has achieved significant improvements in efficiency through long-term energy saving targets. Our goal is to achieve net zero carbon emissions at all of our airports in 2025. In the long term, we aim for carbon negativity. 

The company has continued to systematically develop services aimed at passengers. In April 2025, we announced an investment of EUR 3 million in the extension of Rovaniemi Airport’s terminal. With the investment, we respond to the strong growth of tourism in Lapland and further develop the passenger experience. The extension will be completed for the winter season 2025–2026, and it will support Rovaniemi’s development into a significant international tourism destination: Finavia has previously invested EUR 25 million in Rovaniemi Airport in 2018–2020 as part of the broader development programme for Finavia's airports in Lapland, and the new investment is a continuation of our strategic focus on ensuring the conditions for the growth of tourism in the region.

In cooperation with the tenants that provide commercial services at our airports, we have developed airport services to make them even more attractive for passengers. In recognition of this, Helsinki Airport was chosen as the Commercial Space of the Year at the Nordic Commercial Spaces and Communities (NCSC) Awards Finland in the spring. Helsinki Airport took first place in the category of commercial spaces under 25,000 m² in size (total area of retail space).

In March, Helsinki Airport was chosen as the best airport in Europe in its size category (15–25 million passengers) for the sixth time. The award is given annually by Airports Council International (ACI), the umbrella organisation for airports. The award is a testament to our personnel's commitment to high quality and a smooth customer experience. The airport was also ranked as the best airport in Northern Europe by Skytrax, which shows that our work is highly appreciated by international passengers.

During the past spring, we have worked on a new strategy that also covers Avia Real Estate, which we acquired in January. The objective of the strategy is to improve the profitability of our business and ensure our continued ability to provide services and create growth in a safe, secure, sustainable and high-quality manner in the years to come. We are working closely together with our personnel and stakeholder as we assess our direction in a changing operating environment. The updated strategy will be published in autumn 2025.”

Read also Finavia's Financial information web page.

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