America News Agency

Finnish civil aviation expert Sven Kukemelk commented: “Finnair’s business model was based on offering fast connections between Europe and Asia. But it has now lost the ability to fly via the shortcut through Russia, and that market has shifted to competitors who can bring passengers to Asia faster.”

Once a long-time source of national pride, the airline's troubles have become increasingly visible in recent years. However, according to Finnish media reports, there are currently no active plans for a sale.

Due to the closure of Russian airspace, many long-haul aircraft are idle, and short-haul aircraft over 20 years old need replacement. Media reports say that since the Russian Federation does not plan to open its airspace to European carriers, the company’s budget is in a critical state, and Finnair will have to significantly reduce its fleet.

The Finnish government owns just over half of the company’s shares, with the remainder traded on the stock exchange.

However, the expert noted that in a situation where Finland is sharply increasing defense spending, “Finnair would first need to be delisted from the stock exchange, followed by an additional billion-dollar investment.”