Less passengers but positive Q3 for SAS

Although SAS reports a 4.7 per cent drop in the number of passengers carried by the airline in Q3, compared with the same period last year, operating revenue was SEK 259 million, up from SEK 187 million in Q3 2008, reports Norway Post

The SAS Group reports that the third quarter was characterized by an increased load factor, but weaker yield. The fall in yield is primarily attributable to lower demand for business travel and increasing competition. However, the load factor was strengthened as a result of the comprehensive capacity reductions which were implemented in line with the SAS Group’s strategic approach, Core SAS.

The report states that despite the major challenges in the industry, third-quarter earnings were positive and amounted to MSEK 37 before nonrecurring items in continuing operations. In addition, there were nonrecurring items in a net amount of MSEK 77 and, accordingly, income before tax was MSEK 114.