National carrier Finnair, which recently said it was recovering from the pandemic slump, suffered another setback on Monday. As expected, Russia banned airplanes from entering its airspace from Finland or any other EU state. That means that Finnair's lucrative Asian routes must make long, costly detours.
A day after the EU banned all Russian planes from its airspace, Moscow responded in kind, barring carriers from 36 countries, including all 27 EU members.
Last Thursday, Finnair stopped flights over Ukraine, and on Friday said it was preparing for a possible closure of Russian airspace.
Nokian Tyres biggest loser of day
On the Helsinki Stock Exchange, Finnair's share price ended Monday down by 20.35 percent. That made it the bourse's biggest loser of the day besides Nokian Tyres, which makes 80 percent of its tyres in Russia.
On Friday the firm said it was shifting production of some of its key product lines from Russia to Finland and the United States to prepare for possible further sanctions following Russia's invasion of Ukraine. Nokian Tyres' stock price fell by 21.13 percent in Helsinki on Monday.
