SAS Scandinavian Airlines narrows 1H losses on improved earnings
SAS reported a 2018 first-half net loss of SEK597m (US$68.8m), narrowed from SEK876m in the year-ago period. The carrier said underlying earnings improved over the 1H of its 2017-18 financial year, which helped reduce the net loss. SAS made the loss on turnover fractionally up at SEK18.9b, compared to SEK18.8b a year ago. Overall, factors including deterioration of the Swedish kroner against other currencies; a longer, colder-than-normal winter; and rising fuel prices have kept the company in the red. SAS’s first half, which runs from November to the end of April, is traditionally the weaker period of the year. However, the underlying earnings trend for Q2 was because of “successful seasonal adjustments, which together with sales campaigns and efficient pricing policies led to higher passenger numbers,” CE Rickard Gustafson said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-05-31/star/sas-scandinavian-airlines-narrows-1h-losses-on-improved-earnings
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SAS Scandinavian Airlines narrows 1H losses on improved earnings
SAS reported a 2018 first-half net loss of SEK597m (US$68.8m), narrowed from SEK876m in the year-ago period. The carrier said underlying earnings improved over the 1H of its 2017-18 financial year, which helped reduce the net loss. SAS made the loss on turnover fractionally up at SEK18.9b, compared to SEK18.8b a year ago. Overall, factors including deterioration of the Swedish kroner against other currencies; a longer, colder-than-normal winter; and rising fuel prices have kept the company in the red. SAS’s first half, which runs from November to the end of April, is traditionally the weaker period of the year. However, the underlying earnings trend for Q2 was because of “successful seasonal adjustments, which together with sales campaigns and efficient pricing policies led to higher passenger numbers,” CE Rickard Gustafson said. <br/>
