The airline SAS reports a pre-tax loss of 155 million euros for the fourth quarter, which ended in October. At the same time, the number of passengers increased by 13 percent compared to the previous quarter, according to the airline.
The loss continues for the struggling airline, which once again releases a gloomy report. In the fourth quarter, a pre-tax loss of SEK 1.7 billion was made, while revenues rose from nearly SEK 5.8 billion to just over SEK 10.6 billion.
“If you look back at our broken financial year, the year with covid, Russia’s closed airspace and the pilot strike this summer, this report is no surprise”
SAS CEO Anko van der Werff
In the report, the management writes that it continues to make progress in the transformation plan and that it reached important milestones in the chapter 11 process during the fourth quarter.
Still insecure situation
In the report, fuel prices and the uncertain global situation are described as continuing problems for the airline. According to van der Werff, they are working to return to operations as they were before the pandemic, especially during the winter months.
We have to increase the pace to grow, says van der Werff. At the same time, the report shows that there is an increase in trips to both colder and warmer winter destinations compared to last winter.
Tough year for SAS
2022 has been challenging for SAS. Around 900 SAS pilots went on strike at the beginning of July, after unions and employers failed to settle the negotiations for a new collective agreement in port. A day later, the company applied for bankruptcy protection in the US – according to the company itself, in order to be able to implement a rescue program that was added in February and which, among other things, means that annual costs must be reduced by SEK 7.5 billion.
Source: SAS
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