SAS interim results were better than expected.
But still worse than last year.
And so far this year, the airline made a loss.
SAS made a profit before tax of 756 million dollars for the period from May to July in the company’s fractured fiscal year.
Compared to the same period last year, a decrease of SEK 420 million. But market analysts, however, had expected an even lower profit of only 650 million, writes TT.
Still minus
“The result reflects a market with continuous price pressure. Meanwhile shows the high passenger growth and improved productivity that our strategy is effective,” writes CEO Rickard Gustafson in the report.
During the initial trading on the Stockholm Stock Exchange rose SAS share by almost 6 percent.
But SAS has remained heavy. Thus far this fiscal year, the company has been making losses.
From November 2013 until May of this year was the loss before tax was SEK 468 million.
Learn the history of the SAS away from the proud grandeur years to today’s troubled companies.
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