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SAS

IATA Code
SK
ICAO Code
SAS
Corporate Address
Frosundaviks Alle 1
19587 Stockholm
Sweden
Website
http://www.flysas.com
Main hub
Copenhagen Kastrup Airport
Country
Sweden
Business model
Full Service Carrier
Network
Domestic | International
Airline Group
Part of SAS Group
Alliance
Star Alliance
Joined Alliance
1997
Association Membership
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Based in Stockholm, Scandinavian Airline System (SAS) is the national airline of three Scandinavian States; Denmark, Norway and Sweden, operating three primary hubs at Copenhagen-Kastrup Airport, Stockholm-Arlanda Airport and Oslo Gardermoen Airport. SAS’ network consists of extensive regional services within Scandinavia and Europe as well as international services to Asia and North America. SAS is member of the Star Alliance.

Location of SAS main hub (Copenhagen Kastrup Airport)

SAS Group share price


 
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1,467 total articles

and

103 total articles

and

SAS falls into loss in FY2014; plans more cost cuts in spite of growth in frequent flyer numbers

19-Dec-2014 3:52 PM

SAS fell back into net loss in FY2014 and its operating profit margin was only 1.0%. It is achieving its cost reduction targets and moving towards a more effcient operation. Moreover, product and network initiatives have helped to stimulate load factor improvements and growth in the number of frequent flyer members using the airline.

However, in a highly competitive market-place characterised by capacity growth and downward price pressure, unit cost did not fall enough to offset the drop in unit revenue. SAS has now announced further cost savings plans and is reorganising its regional flying activities.

SAS has achieved much over the past two years, streamlining the group and cutting costs. It has lowered its CASK by 10% since 2012, bringing it more in line with other European FSCs. The problem is that the main competitive threat comes from the LCCs and SAS' cost base is still much higher than theirs. It seems it must always work harder just to tread water.

Flybe: a niche occupied by few other airlines, but still with a unit cost disadvantage

9-Dec-2014 3:30 PM

At its Capital Markets Day in late Nov-2014, Flybe asserted that it "does not compete with low cost carriers, flag carriers or mid-haul leisure airlines". Moreover, our analysis shows that it rarely competes with other regional airlines. In fact, Flybe faces no competition of any kind on 78% of its city pair routes in its Dec-2014 schedule. Moreover, it is Europe's largest independent regional airline and Europe is the world's largest regional market.

In spite of these advantages and what looks to be a relatively efficient cost base by comparison with other European regional airlines (according to our analysis), Flybe has yet to re-establish sustainable levels of profitability. Much has been achieved since the change of senior management in 2013, but the regional airline's fundamental CASK disadvantage will remain a challenge even as it increases its focus on turboprops rather than regional jets.

Airport ground handling – industry overview 2014. Part 2: Consolidation and alliances

20-Nov-2014 7:51 AM

This second part of CAPA's report on airport ground handling reviews the consolidation of the ground handling industry and emerging alliances.

With the global airport ground handling business estimated at over USD80-100 billion per annum in revenues, this is a sizeable activity, with new paradigms emerging as liberalisation spreads and as new major forces like China and (potentially) India and other emerging markets adopt new principles.

Consolidation has occurred and new alliance moves are being made, but added competition has conspired to ensure that in most cases profit margins are small. So there may be more moves to come.

Ryanair: Europe's most profitable airline "not cheap and nasty". FY target raised after strong 2Q

5-Nov-2014 4:43 PM

Ryanair has again achieved double digit growth in net profits in 2QFY2015. This was the result of revenue per seat growth outpacing cost per seat growth. After Ryanair's dip in profits in FY2014, it has now reported two quarters of earnings growth and reconfirmed its position as Europe's most profitable airline. It has again raised its FY2015 net profit guidance and expects a result that is around 45% higher than last year.

With a slight fall in average sector length in 2Q, the increased revenue per seat was the result of network and product/service improvements and greater overlap with higher fare competitors. It seems that Ryanair has made good progress with its 'Always Getting Better' programme and this is feeding through to the numbers.

Remarkably for Ryanair, it is even starting to make positive progress in brand rating surveys. As CEO Michael O'Leary said to analysts at the 2Q results presentation, "It's not cheap and nasty any more," he said, "it's cheap and very good."

SAS Scandinavian Airlines: 3Q profits down as yield weakness continues at Europe's high cost airline

12-Sep-2014 4:41 PM

Another quarter, another fall in yield for Scandinavian Airlines, SAS. The Nordic region's largest airline reported a year on year decline in profits in 3QFY2014 and a fall into loss for 9M. It has made good progress with its cost reduction programme, but costs are not falling fast enough to offset tumbling yields and SAS remains one of Europe's highest cost airlines.

Healthy load factor gains demonstrate that SAS has some appeal to the Scandinavian frequent flyers that it desires, but price discounting remains a key feature of this appeal. Overcapacity in its markets has contributed to yield weakness, but its many LCC competitors are better positioned to provide the lower fares demanded by the market. In spite of some easing of the supply/demand imbalance, SAS expects continued yield pressure.

SAS' number one priority is an additional cost reduction programme, full details of which will be announced by the end of 2014.

Europe's airlines: 1H2014 results season shows improving trend, but cost reduction is the key driver

7-Sep-2014 11:28 AM

Europe's airlines appear to be following a course to improved profitability, based on the 1H2014 results of the largest publicly quoted airline groups. Profits remain slender in most cases, but margins are improving in aggregate. Individually, financial performance varied widely, with LCCs both leading (Ryanair) and lagging (Norwegian) the operating profit margin rankings in 1H2014.

The European market offers volume growth, but is characterised by price pressure, with RASK falling for the majority of the larger airline groups and this points to the need for additional caution in capacity growth. The LCCs collectively enjoyed higher growth than the FSCs in 1H2014 and also achieved a more stable RASK performance (although not in all cases).

Profit improvement is largely being achieved through cost savings and CASK reduction. Although fuel prices are high on a longer term historic perspective, they are enjoying a period of relative stability and this has helped the cost picture. Although Europe's airline sector remains only thinly profitable, these 1H results hold out the prospect of better full year results in 2014 versus 2013.

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