18-Aug-2011 1:07 PM

SAS Group reports profit in 2Q2011, passenger numbers up 17.8%

SAS Group revenue up 12.5% - financial highlights for the 3 months ended Jun-2011:

  • Revenue: EUR1,229.3 million, +12.5% year-on-year;
  • Operating income: EUR99.4 million, compared to a loss of EUR38.2 million in p-c-p;
  • Income before tax: EUR79.8 million, compared to a loss of EUR65.7 million in p-c-p;
  • Net income: EUR60.3 million, compared to a loss of EUR55 million in p-c-p;
  • Passenger numbers: 7.4 million, +17.8%;
  • Passenger traffic (RPKs): +13.3%;
  • Capacity (ASKs): +12.3%;
  • Load factor: 76.1%, +0.7 ppt;
  • Scandinavian Airlines:
    • Yield^: +0.6%;
    • Total unit revenue, RASK^: +6.6%;
    • Total unit cost, including charter^: +2.4%. [more]

SAS Group: “Ahead of the second quarter, the booking status is relatively stable, but there is a higher degree of uncertainty regarding global economic trends. Jet fuel prices and additional capacity in the market remain a challenge. Our assessment made in conjunction with the report for the first quarter of 2011 stands firm – provided that no unexpected events occur, the conditions remain for the SAS Group to achieve positive income before tax for full-year 2011. In addition, the financial risk exposure remains in Spanair,” Source: Company statement, 17-Aug-2011.

*Based on the conversion rate at EUR1 = SEK9.13462