Finnair Competitive Edge Lost with Closure of Russian Airspace, SEB Says in Downgrade

• (PLX AI) - Finnair's competitive edge is lost with the closure of Russia's airspace, SEB analysts said, cutting the stock to sell from hold.
• • Finnair based its strategy on Europe-Asia transfer traffic, with close to 50% of its pre-pandemic passenger revenue generated by such traffic, SEB said
• • Without being able to fly over Russia, this business case is impacted
• • Note that Finnair today cut its Asia traffic, eliminating or postponing flights to Japan, China and other destinations
• • Price target cut to EUR 0.35 from EUR 0.67 at SEB