SAS Group revenue down 16%, losses narrow in 1Q2010

SAS Group revenue down 16% - financial/traffic highlights for the three months ended 31-Mar-2010:

• Operating revenue: EUR986.2 million, -16.0% year-on-year;
  • Scandinavian Airlines: EUR862.0 million, -17.6%;
  • Blue1: EUR42.8 million, -11.6%;
  • Wideroe: EUR 86.1 million, +2.9%;
• Operating costs:
  • Labour: EUR368.1 million, -23.1%;
  • Other: EUR601.7 million, -10.9%;
  • Scandinavian Airlines: EUR714.9 million, -19.8%;
• Operating profit (loss): (EUR79.1 million), compared with a loss of EUR102.2 million in the previous corresponding period;
  • Scandinavian Airlines: (EUR37.7 million), compared with a loss of EUR77.6 million in the previous corresponding period;
  • Blue1: (EUR5.8 million), compared with a loss of EUR5.2 million in the previous corresponding period;
  • Wideroe: EUR2.3 million, compared with a loss of EUR4.4 million in the previous corresponding period;
• Net profit (loss): (EUR74.0 million,
• Passenger numbers: 5.7 million, -0.2%;
  • Scandinavian Airlines: 4.9 million, -0.3%;
• Load factor: 68.8%, +6.3 ppts;
  • Scandinavian Airlines: 69.7%, +6.7 ppts;
• Yield:
  • Scandinavian Airlines: -11.4%;
• Revenue per ASK:
  • Scandinavian Airlines: -1.7%;
• Total unit cost:
  • Scandinavian Airlines: -7.8%;
• Operational unit cost:
  • Scandinavian Airlines: -7.0%. [more]

*Based on the conversion rate at EUR1 = SEK9.628

SAS: "2010 will continue to be a tough year for the aviation industry. However, excluding recent events, some signs of improving demand have been noted in SAS' markets but uncertainty still remains regarding the yield development," Mats Jansson, President & CEO. Source: SAS Group, 22-Apr-2010.