The SAS Group have reported favorable growth and improved earnings for first half of 2007.Key ratios from the SAS Group six-month report published are:
á Income before nonrecurring items for the period amounted to MSEK 369 (
588), an improvement of MSEK 957.
á The income improvement is attributable to a combination of favorable
business conditions, higher yield, effective capacity and cost control, and
new business models.
á The Group carried 20.1 million passengers during the period, which is
more than earlier and 5.8% more than in the preceding year.
á The Group’s total revenue increased by 3.4% to MSEK 30,133.
Mats Jansson, President and CEO commented:
“The quarter was characterized by continued favorable business conditions in
our home market, which contributed to growth in the market for air travel.
Consequently, the trend for passengers and yield remained positive and
this, combined with effective cost and capacity control, generated an
improvement in income of approximately SEK 1 billion for the first six
months of the year.
“In June, we launched our strategy plan 2011. The premise for this is to
reduce the Group’s complexity to benefit the customer and the key terms are
cultural turnaround, focus, concentration, harmonization and increased
competitiveness. The objective of the plan is to create the conditions for
profitable growth and to achieve an earnings level that meets our
investment requirements and shareholders’ demands.
“I deeply regret the strikes that have affected SAS customers and
shareholders. Accordingly, a key part of our strategy is to implement a
cultural turnaround and find a new model for cooperation with the trade
“There are currently no clear indications of a slowdown in the economy or
the airline market, but uncertainty remains regarding the strength of
growth, the competitive situation moving forward and the trend for jet