Finnair boasts record high profit in Q3

National flag carrier Finnair reached record high results in the third quarter this year, said the carrier on Wednesday.

Its Q3 surplus rose to 118.9 million euros from 65.7 million a year ago.

Finnair has shown an increase in profit for 12 quarters in succession. The latest result is the best in the history of the airline.

The turnover of Finnair rose 14.7 percent to 735.4 million euros. Finnair estimates its capacity as a carrier grew in 2017, nine percent up from 2016.

Finnair CEO Pekka Vauramo said in a press release that the strong development can be attributed to well-timed increase in capacity and successful decisions on routes.

While the company is publicly listed, the majority owner of it is the state of Finland. The value of Finnair stock has risen this year from around 4 euros to 11 euros.