6-Dec-2019 12:59 PM
SAS CEO: Uncertain economic outlook and economic slowdown to impact customer demand
SAS CEO Rickard Gustafson reported (05-Dec-2019) "uncertain economic outlook and emerging slowdown in key economies will negatively impact customer demand" and "we therefore foresee significantly lower growth, both from a demand and a supply perspective". Mr Gustafson said weakness of the Swedish Krona against the US dollar and the Euro "also remains a challenge". Mr Gustafson stated the higher cost of aircraft, increased training volumes and the implementation of IFRS 16, SAS expects to deliver an EBIT margin of 3%-5% for fiscal year 2020, as well as an increased loss year-on-year for 1Q2020. [more - original PR]