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SAS Group revenue down 16.6%, net result back in the black

6-Nov-2009 1:46 PM

SAS Group revenue down 16.6% - financial highlights for the three months ended 30-Sep-2009;

  • Revenue: EUR1,066 million, -16.6% year-on-year;
  • Operating costs: EUR986.6 million, -15.8%;
    • Scandinavian Airlines: EUR903.8 million, -16.3%;
    • Widerøe: EUR70.7 million, -7.9%;
    • Blue1: EUR42.7 million, -2.4%;
  • Operating profit (loss): EUR24.9 million, +38.5%;
    • Scandinavian Airlines: (EUR51.1 million), compared to a loss of EUR7.4 million in the previous corresponding period;
    • Widerøe: EUR577,478, compared to a loss of EUR1.1 in the previous corresponding period;
    • Blue1: (EUR5.4 million), compared to a loss of EUR2.5 million in the previous corresponding period;
  • Profit before tax: EUR11.0 million, +3.6%;
  • Net profit: EUR14.6 million, compared to a loss of EUR191.1 million in the previous corresponding period;
  • Passenger numbers: 6.2 million, -14.7%;
    • Scandinavian Airlines: 5.4 million, -16.4%;
    • Widerøe: 523,000, +3.3%;
    • Blue1: 345,000, -11.5%;
  • Load factor: 76.7%, +2.2 ppts;
    • Scandinavian Airlines: 77.6%, +2.6 ppts;
    • Widerøe: 63.6%, +3.7 ppts;
    • Blue1: 69.7%, -1.9 ppt;
  • Yield^:
    • Scandinavian Airlines: -7.6%;
    • Widerøe: -0.5%;
    • Blue1: -15.9%;
  • Traffic revenue per ASK^:
    • Scandinavian Airlines: -6.6%;
  • Unit cost^:
    • Scandinavian Airlines: -9.2%;
    • Widerøe: +0.4%;
    • Blue1: -13.4%. [more]
  • *Based on the conversion rate at EUR1 = SEK10.39
  • ^Currency adjusted

SAS Group: “During the third quarter, the global economy remained very weak. The effects of the global recession are tangible throughout the entire airline industry and significant savings programs are being implemented to address the record yield fall in the industry, which is resulting in major losses. IATA, the airline industry organization, is indicating a drop in yield of 20-30% for intercontinental services,” Company statement. Source: SAS, 05-Nov-2009.