Finnlines assumes its role
Finnlines’ turnover and profitability have declined significantly compared to 2019 due to decreased cargo and passenger volumes. Yet, the carrier, which is of strategic importance especially for Finland and Sweden, has neither laid down any vessels or altered any services - despite not receiving any financial aid from the states. The line criticises the national emergency supply agency’s state-aid package as " distortive, against principles of proportionality and discriminatory".
Still, the group’s revenue for January–September 2020 was EUR 363.1 million, 19% less compared to EUR 450.8 million in the corresponding period 2019. Profit for the reporting period was EUR 54.2 million – a 34% decrease compared to EUR 81.8 million over the same period last year.
Nevertheless, the carrier invests close to EUR 500 million in green vessels – in three new ro-ro and two new ro-pax vessels. In addition, two eco-efficient Superstar ro-pax vessels are scheduled to come into operation in 2023. (cd)