Airspace closures hit airlines, Finnair falls 21%
Published by
Reuters UK

HELSINKI (Reuters) – The closure of EU airspace to Russian airliners and the prospect of Russia shutting out airlines in response knocked airline shares on Monday including Finnair, which cut its guidance and saw its shares tumble 21%. Shares in European airlines and airport operators were down 3-6% in early trade. Without access to Russia’s airspace, carriers will have to divert flights south while also avoiding areas of tension in the Middle East. For Finland’s national carrier that could mean a loss of business as it uses a route across Russian skies from Europe to Asia via its hub in Helsi…

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