• The Financial District


State-owned airline Finnair has announced a total of 700 job cuts after co-determination talks with trade unions, the Finnish Yle news service reported. 

Some 600 of the redundancies will occur in Finland, with 100 jobs lost overseas. Talks with Finnish unions covered 2,800 jobs affected by the dramatic reduction in demand for aviation over recent months. Cabin crew and pilots were not included in those talks. The redundancies are planned to take place by the end of next March. 

"The corona pandemic has been completely unfair to our industry and unfortunately many Finnair employees now must experience its financial implications personally,” said Finnair CEO Topi Manner in a statement. 

Studies have suggested a link between aviation and the spread of the coronavirus epidemic in the early stages both within China and from China internationally. In recent years Finnair has invested in the success of long-haul connections to the Far East, and the company was hard-hit by travel restrictions brought in to slow the spread of COVID-19.

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