SAS delivers promised efficiency measures, strong passenger growth and load factor improvements

SAS CEO and president Rickard Gustafson stated (18-Dec-2014) the carrier delivered the promised efficiency measures 4Q2014, with "declining unit costs as a consequence." The carrier reported strong passenger growth and a year-on-year improvement in load factor 4Q2014. Mr Gustafson noted earnings were impacted by intense competition and strong price pressure, with the trend expected to continue. SAS plans to "meet these challenges and strengthen competitiveness" by implementing additional long-term cost-saving measures that generates up to SEK2.1 billion (EUR220 million) by 2017. Mr Gustafson said, "External production models, proprietary low cost carriers and the use of staffing agencies are increasingly becoming the established industry norm and are changing competitive conditions for European aviation from the ground up." [more - original PR]