Finnair (AY) stands as one of the most recognisable flag carriers in Northern Europe, with its base firmly rooted at Helsinki Airport. It has long marketed itself as a bridge between Europe and Asia, though the airline’s fortunes have shifted sharply over the past few years. First came the pandemic downturn, then the Russian airspace closures, which affected many of its most profitable long-haul routes to Asia.
Despite these setbacks, Finnair has pressed on with a combination of efficiency drives, new route launches, and a commitment to sustainability. In 2024, the airline carried close to 10 million passengers and reported revenues of just over 2.8 billion euros, an improvement on the previous year as travel rebounded. Its fleet currently sits at more than 80 aircraft, including Airbus A350s for long-haul, and narrowbodies for European services.
At the leadership helm since April 2024 is Turkka Kuusisto, who took over from long-time CEO Topi Manner. Kuusisto stepped into the top job during a sensitive period, with Finnair trying to reposition its network strategy while also keeping a tight control on costs.
Here’s a look at Kuusisto’s background, his compensation details, and how Finnair’s pay structure compares with its rivals.
Who is Finnair CEO Turkka Kuusisto?
Turkka Kuusisto is a Finnish executive with a Master of Science degree in Technology. His career has largely been built around industries that combine heavy regulation with complex logistics, which has shaped his management style as one rooted in pragmatism.
Before joining Finnair, Kuusisto held senior positions in sectors such as transport and logistics, giving him a familiarity with efficiency challenges and technological modernisation.
He became Finnair’s CEO on 24 April 2024, taking the reins during a time when the airline was forced to rethink its strategy due to closed eastern airspace and rising operating costs.
Unlike many CEOs who come from a purely financial background, Kuusisto is known more for an operational and systems approach, valuing both cost discipline and sustainability initiatives. Within the airline, he is described as approachable yet firm, someone who tends to look at detail but also keeps an eye on long-term strategic change.
Finnair CEO Turkka Kuusisto Salary 2025
The latest available figures for Turkka Kuusisto’s pay show a total annual compensation of about €706,200 (around US$757,000). His base salary makes up roughly €473,000 per year, equal to about €59,250 per month.
On top of this fixed salary, his compensation package is tied strongly to performance:
- Short Term Incentive (STI): targeted at 40% of base salary, with a maximum potential of 80%.
- Long Term Incentive (LTI): spread across three-year performance periods, linked to financial and sustainability metrics.
- Together, the STI and LTI are capped at 200% of base salary, meaning Kuusisto’s total possible annual rewards could reach close to €1 million if all targets are hit.
In addition, his remuneration includes non-cash benefits such as health and life insurance, staff travel privileges, a company car, and a phone.
Rival Comparisons in the Nordic Market
To put Kuusisto’s compensation in context, it helps to look at the pay of CEOs at nearby rivals SAS (Scandinavian Airlines) and Norwegian Air Shuttle, both operating in the same Northern European region and competing on many routes.
- Anko van der Werff (SAS CEO): His total pay in 2024 was estimated at €1.1 million, with a base salary close to €600,000, along with performance-linked incentives. SAS has been through a tough restructuring, but as it emerges from Chapter 11 bankruptcy protection, its role has carried heavy responsibility in restoring investor and public confidence.
- Geir Karlsen (Norwegian Air Shuttle CEO): In 2024, Karlsen earned about €820,000 in total compensation, slightly above Kuusisto’s package. Norwegian, like Finnair, has had to carefully recalibrate its long-haul ambitions and is currently focusing strongly on short and medium-haul European markets.
By comparison, Kuusisto’s pay looks moderate and proportionate. His base salary is somewhat lower than that of SAS’s chief, and his total package trails both rivals if maximum incentives are achieved.
Finnair’s Plans for 2025
Looking ahead, Finnair has set ambitious yet measured plans for 2025. The airline expects continued recovery in passenger demand, with a goal to carry more than 11 million passengers.
It is expanding frequencies on key European routes, while carefully evaluating new long-haul opportunities in Asia that avoid Russian airspace. Japan and South Korea remain priority markets, while India and the Middle East are being explored further.
Sustainability is also a central plank of Kuusisto’s strategy. The airline has been investing in biofuels, fleet modernisation, and offsetting schemes to reach carbon neutrality by 2045. For 2025, the focus will be on improving fuel efficiency and increasing the use of sustainable aviation fuels on select flights.
Financially, the company is targeting steady improvement rather than rapid growth, aiming for margins that can support debt reduction while still allowing for gradual investment.
Bottom Line
Turkka Kuusisto stepped into the role of Finnair CEO at a time of both challenge and opportunity. His compensation is structured to encourage long-term success rather than immediate gains, with incentives that align closely with financial recovery and sustainability.
Compared with his Nordic peers, his pay is relatively modest, which seems appropriate given Finnair’s current scale and cautious recovery.
As 2025 unfolds, the effectiveness of this pay structure will be tested by Finnair’s ability to navigate competitive pressures, fluctuating demand, and its commitment to reducing environmental impact. For now, Kuusisto’s remuneration reflects a balance between responsibility, prudence, and the drive for long-term stability.
Finnair CEO Salary FAQs
His base salary is about €473,000 per year, or roughly €59,250 per month.
Including incentives and benefits, Kuusisto’s reported total package for 2025 is around €706,200 annually.
Kuusisto’s pay is lower than that of SAS’s Anko van der Werff (about €1.1 million) and Norwegian’s Geir Karlsen (about €820,000). His package is designed conservatively and reflects Finnair’s smaller scale.
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