SAS Scandinavian Airlines reports mixed half-year results
SAS Scandinavian Airlines posted a loss after tax of SEK75m (US$9.3m) for the first half of its financial year, substantially reduced from a loss of SEK361m for the same period last year. Revenue for the half-year, which ended in April, dipped slightly, to SEK17.2b compared to SEK17.8b last time. A substantial factor in the half-year loss was adverse currency exchange rates, which had a negative impact of SEK875m on operating income over the period, SAS president and CE Rickard Gustafson said. He said the figures had also been hit by a combination of a 6.4% capacity increase in the market and lower fuel prices. These had translated into lower fares, which had led to substantial pressure on yields—these dropped 9.2% in Q3 compared to the year-ago period. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-06-13/star/sas-scandinavian-airlines-reports-mixed-half-year-results
https://portal.staralliance.com/cms/logo.png
SAS Scandinavian Airlines reports mixed half-year results
SAS Scandinavian Airlines posted a loss after tax of SEK75m (US$9.3m) for the first half of its financial year, substantially reduced from a loss of SEK361m for the same period last year. Revenue for the half-year, which ended in April, dipped slightly, to SEK17.2b compared to SEK17.8b last time. A substantial factor in the half-year loss was adverse currency exchange rates, which had a negative impact of SEK875m on operating income over the period, SAS president and CE Rickard Gustafson said. He said the figures had also been hit by a combination of a 6.4% capacity increase in the market and lower fuel prices. These had translated into lower fares, which had led to substantial pressure on yields—these dropped 9.2% in Q3 compared to the year-ago period. <br/>
