COPENHAGEN, June 13 Reuters Finnair on Tuesday raised its fullyear 2023 operating profit target and said it expects travel demand to exceed expectations, sending its shares up 3.

The company now estimates that its comparable operating profit this year will reach or even exceed 201939;s prepandemic level of 162.8 million euros 175.91 million, it said.

As a result of the improved profit outlook, Finnair39;s strategic comparable operating profit margin target of at least 5 from mid2024 onwards would be reached 1218 months earlier than anticipated, the carrier said.

However, it does not see its revenue for 2023 reach the 2019 level of 3.1 billion euros, Finnair added.

Lesscostly fuel prices also helped, the company said.

However, high fuel prices and the closure of Russia39;s airspace still cause uncertainty, it added.

Finnair had in late April predicted that its revenue and earnings would significantly improve this year but added at the time that the company would still lag levels seen in 2019, the last year before the outbreak of the COVID19 pandemic.

The airline plans to release its halfyear report on July 21.

Shares in Finnair were up 3.0 at 1009 GMT on Tuesday.

1 0.9255 euros

Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik and Louise Heavens

Source Reuters