SAS reports gigantic loss due to coronavirus
SAS says it has registered the biggest loss in the company’s history, due to a loss of trade resulting from the coronavirus. The company’s results from November 2019 to October 2020 show a loss of 9.3b Swedish kronor (E907m). The results were published early on Thursday. In the previous accounting year, from November 2018 to October 2019, SAS posted a profit of 0.6b kronor (E58m). Covid-19 is the primary reason for the disastrous annual result, CEO Rickard Gustafson said. “SAS is naturally no exception (from the coronavirus crisis), and our revenues in the current quarter and accounting year were badly affected by the ongoing pandemic,” Gustafson said. Although demand improved during the summer, the return of high levels of infection spread in September and October and subsequent travel restrictions impacted the company.<br/>
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SAS reports gigantic loss due to coronavirus
SAS says it has registered the biggest loss in the company’s history, due to a loss of trade resulting from the coronavirus. The company’s results from November 2019 to October 2020 show a loss of 9.3b Swedish kronor (E907m). The results were published early on Thursday. In the previous accounting year, from November 2018 to October 2019, SAS posted a profit of 0.6b kronor (E58m). Covid-19 is the primary reason for the disastrous annual result, CEO Rickard Gustafson said. “SAS is naturally no exception (from the coronavirus crisis), and our revenues in the current quarter and accounting year were badly affected by the ongoing pandemic,” Gustafson said. Although demand improved during the summer, the return of high levels of infection spread in September and October and subsequent travel restrictions impacted the company.<br/>
