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HELSINKI: February 21, 2018. Finnair has reported cargo revenue of €197.4 million in 2017 – a 13.5 percent increase year-on-year – as the airline saw a significant rise in Q4 revenue of 23.7 percent to reach €57.1 million. Air cargo traffic rose 8.6 percent in the 12 months to just over 157,000 tonnes and cargo yield increased an average 2.3 percent.

Finnair Cargo HELCommenting on the result, airline CEO Pekka Vauramo said: "The air cargo market continued its strong growth during the period. Globally all regions made a positive contribution, but the positive development in Greater China especially was strong. Market capacity growth leveled out and, as a result, together with favorable demand, cargo load factors and yields continued to increase."

Group revenue rose 10.9 percent to €2.56 billion; EBITDAR increased 61.3 percent to €436.2 million and net profit jumped 99 percent to €169.4 million.

Vauramo said last year had been "excellent" for the company: "The favorable business environment supported our growth together with the right capacity, route network and product decisions we made in recent years. We ended 2017 in the middle of the fastest growth phase in Finnair's history and we plan to continue our transformation and growth also in 2018."

Noting the contribution of the airline's 5,500 employees to the historic result, Vauramo said they received a one-time bonus of €13 million in December.

With digital sales representing 24 percent of total ticket sales in 2017, Finnair has become the first non-Chinese airline to open a flagship store for online flight bookings on the JD Travel platform this year. In 2017 its website averaged 1.8 million visits a month while the number of active Finnair mobile app users totaled 210,000 – up 87 percent over 2016.

The airline has announced it will begin a year-round twice-weekly service from Helsinki to Minsk in June and is extending its seasonal Chicago and San Francisco routes until December 2018.

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