SAS banking on marginal coronavirus impact
SAS said Wednesday that its net loss widened for Q1 of fiscal 2020 after booking higher costs and backed its guidance subject to the effects of the coronavirus epidemic. The airline said that for the quarter ended Jan 31 its net loss was SEK861m (US$88.5m) compared with a net loss of SEK469m for Q1 2019. Analysts polled by FactSet had expected a net loss for the period of SEK679.7m, based on 4 analysts’ projections. Revenue was SEK9.71b, compared with SEK9.41b the year before and consensus of SEK9.79b, taken from FactSet and based on 3 analysts’ forecasts. “We can affirm our fiscal year outlook of an earnings before interest and tax margin before items affecting comparability of 3% to 5%, given a marginal impact of COVID-19 that allows us to resume normal operations before the summer season,” the company said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-27/star/sas-banking-on-marginal-coronavirus-impact
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SAS banking on marginal coronavirus impact
SAS said Wednesday that its net loss widened for Q1 of fiscal 2020 after booking higher costs and backed its guidance subject to the effects of the coronavirus epidemic. The airline said that for the quarter ended Jan 31 its net loss was SEK861m (US$88.5m) compared with a net loss of SEK469m for Q1 2019. Analysts polled by FactSet had expected a net loss for the period of SEK679.7m, based on 4 analysts’ projections. Revenue was SEK9.71b, compared with SEK9.41b the year before and consensus of SEK9.79b, taken from FactSet and based on 3 analysts’ forecasts. “We can affirm our fiscal year outlook of an earnings before interest and tax margin before items affecting comparability of 3% to 5%, given a marginal impact of COVID-19 that allows us to resume normal operations before the summer season,” the company said. <br/>
