SAS: Q4 loss increases with costs worrying

(CercleFinance.com) - SAS announced on Thursday highrer losses over the past quarter, a worrying trend at a time when the Scandinavian airline - which is in the midst of restructuring - is expected to cut its costs sharply.


This morning, the carrier reported a net loss of 1.9bn SEK Q4 to end-October, well above the 1.2bn SEK recorded a year ago.

SAS explained that it had suffered from unfavourable exchange rate effects as well as higher oil prices, while warning that it would take time to implement its cost reductions.

However, over the quarter, some 6.8 million passengers travelled on its routes, 18% more than at the same time last year.


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