Finnair

Finnair raised its guidance for 2026, but forecasts next year's earnings to decrease significantly, which makes the share's valuation high.

Finnair's development has remained strong in Q3, and we believe its full-year figures will reach the upper end of the guidance ranges or surpass them.

Finnair achieved its best Q2 earnings in its history in the second quarter, driven by strong unit revenues.

We estimate that the operational result improved significantly from the comparison period and rose to an excellent level due to high revenue.