Finnair Names New Chief Financial Officer

Finnair Appoints Pia Aaltonen-Forsell as Chief Financial Officer

Finnair has announced the appointment of Pia Aaltonen-Forsell as its new Chief Financial Officer and member of the Executive Board, effective August 1, 2025. She will begin transitioning into the role on June 15, 2025. Aaltonen-Forsell joins the Finnish airline from Northvolt, where she currently holds the position of CFO. Her extensive experience includes previous CFO roles at Outokumpu and Ahlström-Munksjö. Additionally, she serves on the Board of Directors and chairs the Audit Committee at UPM-Kymmene Corporation.

Strategic Context and Industry Challenges

Aaltonen-Forsell’s appointment arrives at a critical juncture for Finnair, as the airline contends with ongoing volatility in the global aviation sector. The industry continues to grapple with fluctuating demand, rising operational costs, and shifting competitive dynamics. While the market’s response to this leadership change remains to be seen, analysts suggest that Finnair’s strengthened executive team may prompt competitors to reassess their strategies.

Leadership Perspectives

Turkka Kuusisto, Finnair’s CEO, expressed confidence in Aaltonen-Forsell’s capabilities, stating, “Pia brings strategic vision and solid financial expertise to Finnair as we continue to develop our competitiveness and financial position in an ever-changing and cyclical operating environment. I warmly welcome Pia to my team.”

In her remarks, Aaltonen-Forsell highlighted the significance of financial discipline and collaborative teamwork. She noted, “Strong balance sheets and financial discipline have always been important to me—they’re the backbone of any successful business. But what truly drives business performance is a strong, united team with a shared target. I look forward to partnering closely with teams across Finnair—it is great to get to join this dynamic industry.”

Transition and Outlook

This leadership change follows Finnair’s February 2025 announcement that current CFO Kristian Pullola will depart by August 2025 at the latest. The transition forms part of a broader strategy to reinforce the airline’s leadership as it seeks to consolidate its position amid industry challenges and pursue emerging opportunities. Despite the uncertain market environment, Finnair’s outlook for 2025 anticipates growth, reflecting confidence in its capacity to adapt and expand.

Aaltonen-Forsell’s proven ability to guide companies through significant periods of change is expected to play a crucial role as Finnair addresses both immediate challenges and long-term goals. Her appointment underscores the airline’s commitment to strong financial management and strategic leadership as it navigates a complex global market.