Finnair said yesterday it would cut around 200 jobs as part of an ongoing restructuring of the loss-making airline.

From October 1, Finnair's business will be streamlined into five operational areas which it said would "reduce the need for personnel by around 200 employees."

"The reorganisation of operations will clarify areas of responsibility and generate cost savings," the company said in a statement.

Last week the company reported a net loss of €26.1 million due to low fares and passenger numbers.

It also said it would start a new round of redundancy negotiations with its 9,100 staff.

Finnair wants to make around €200 million in annual savings to boost its profitability.

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