SAS Group increases FY2015 guidance

SAS Group increased (18-Jun-2015) its FY2015 guidance, stating it expects to post "clearly positive" income before tax and nonrecurring items. SAS Group stated: "SAS is continuing the intensive efforts to strengthen competitiveness. As a consequence of a stronger yield, the earnings improvement out-performed expectations and has led to SAS now expecting income before tax and nonrecurring items to be clearly positive in the 2014/2015 fiscal year. The outlook is provided that the economy does not weaken, that the trend continues in terms of reduced capacity and lower jet-fuel prices is maintained, that exchange rates are not subject to further deterioration and that no unexpected events occur." SAS president and CEO Rickard Gustafson said: "We have noted that our commercial investments and a more stable market have strengthened revenue and, thereby, improved SAS's outlook for the 2014/2015 fiscal year. However, in the long term, we foresee continued intense competition as a result of the comprehensive changes in the European airline industry and increased market capacity from 2016." [more - original PR]