Finnair to lay off 450 workers

Finnair PLC says it will lay off 450 people in technical services and transfer dozens of others in an attempt to further cut costs.

The national carrier said Thursday that the layoffs and restructuring are unavoidable because “base maintenance of aircraft … is deeply unprofitable.”

The airline has been struggling to cut costs amid declining demand, competition from budget airlines and . It has laid off hundreds of workers, reported a fourth-quarter loss of $7.4 million (€5.4 million) and a drop in passenger traffic.

Last year, some 7 million passengers flew Finnair — down 4 percent on 2009.

From: Times Union