Premium economy has been a staple for many of the legacy carriers for years. While most full-service carriers now offer the service, some still do not. This, however, is changing as more and more full-service carriers are adopting the class. We heard Tim Clark tell how Emirates was planning to launch premium economy, and now Finnair is finally set to follow suit. The new premium cabin will tie in with the launch of a new cabin across the airline’s ATR fleet.
Competing With Gulf Carriers
Finnair is currently marketing itself as an alternative to the Gulf carriers. Emirates, Etihad, and Qatar currently all operate primarily as the bridge between Europe and Asia. Finnair believes that they are able to knock up to 4 hours off of the flight time to Asian destinations compared to its middle eastern competitors. While neither Etihad or Qatar offer premium economy, Emirates is set to launch the product. By offering premium economy, Finnair will have even more extra selling points to try and compete with the Arabian Peninsular airlines.
Piia Karhu, Finnair Senior Vice President, told a press release: “We see a growing trend of quality focused travellers, who place a strong focus on the comfort and quality of their travel experience. Responding to customer needs from all our key markets, our new Premium Economy class will serve the requirements of both leisure and corporate customers.”
In fact, Premium Economy is a fairly lucrative market for long-haul airlines. The airlines typically spend a minimal amount more on the product than on Economy. Airlines then make a lucrative profit from the seats. Despite not costing much more to offer, the airlines will often charge a sweet premium for the benefit of these “luxury” economy seats.
The Finnair Premium Economy product is set to be launched in Q4 of 2020. The airline expects that the rollout will be completed by 2022. Detailed planning of the new cabin is currently underway. As of such, the airline has released no details of the new cabin yet. The plans are tightly under wraps for the time being.
What do you think Finnair’s new premium economy product will be like? Let us know in the comments down below!