Business News
SAS reports third quarter profits of 214 million kronor
Nov 8, 2011, 8:20 GMT
Stockholm - The SAS Group, operator of the joint carrier Scandinavian Airlines, Tuesday reported a net profit for the third quarter of 2011, putting the figure down to increased passenger numbers.
The net profit of 214 million kronor (32 million dollars) compared to a net loss of 1 billion kronor in the same quarter last year.
Turnover in the quarter declined from 10.7 billion kronor to 10.6 billion kronor year-on-year.
In its Nordic home base, capacity - and competition - continued to grow. The group said it however had managed to increase the number of passengers on many routes.
Despite uncertainties such as how fuel prices and the global economy develops, the group said it still hoped to report a pre-tax profit for the full year but said conditions had deteriorated.
The group flew 6.9 million passengers during the quarter, up 4 per cent year-on-year.
The SAS Group had some 15,375 employees at the end of September, compared to 15,570 year-on-year.
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