SAS cautiously optimistic after fiscal first-half loss
SAS still expects to turn in a pre-tax profit for its 2016-2017 financial year despite a sharp increase in losses in the fiscal year’s first half. The airline turned in a net loss of SEK876m (US$101m) for the 6 months ending Apr 30 2017, compared to a net loss of SEK75m a year previously. The loss was made on revenue of SEK18.8b compared to SEK17.2b for the year-ago period. The financial year’s Q2 “trended in line with our expectations,” president and CE Rickard Gustafson said. The most positive news was an increase of more than 300,000 passengers compared to the corresponding quarter last year. This resulted in increased revenue and a year-over-year improvement in income before tax and nonrecurring items. “However, profitability remains too low and must be raised,” he said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-06-28/star/sas-cautiously-optimistic-after-fiscal-first-half-loss
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SAS cautiously optimistic after fiscal first-half loss
SAS still expects to turn in a pre-tax profit for its 2016-2017 financial year despite a sharp increase in losses in the fiscal year’s first half. The airline turned in a net loss of SEK876m (US$101m) for the 6 months ending Apr 30 2017, compared to a net loss of SEK75m a year previously. The loss was made on revenue of SEK18.8b compared to SEK17.2b for the year-ago period. The financial year’s Q2 “trended in line with our expectations,” president and CE Rickard Gustafson said. The most positive news was an increase of more than 300,000 passengers compared to the corresponding quarter last year. This resulted in increased revenue and a year-over-year improvement in income before tax and nonrecurring items. “However, profitability remains too low and must be raised,” he said. <br/>
