Reduction in business travel drags SAS into Q4 loss - TravelMole


Reduction in business travel drags SAS into Q4 loss

Wednesday, 14 Feb, 2002 0

SAS, the Scandinavian carrier, has announced a sharp fall into losses in the fourth-quarter.

The Stockholm-based airline lost SKr997m in the three months to the end of December, compared with a profit of SKr1.35bn in the same period a year previously.

The company said the events of 11 September, the subsequent acts of war and substantially reduced business class traffic were the main reasons for the poor performance in the fourth quarter.

Jorgen Lindegaard, SAS’s president, said the company was particularly badly hit because of the relatively high proportion of business traffic it carries. In October, business class traffic on routes between the US and Scandinavia slumped by more than half.

The company said that it expected the weak demand to continue in the first half of 2002 but that there will be some improvement in the second half of the year.

The group forecast further losses for 2002 and described the situation at its core airline operation as “precarious”.



Related News Stories:  



 



Most Read

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats

Robert Terrell: A Journey Through BB King’s Influence

Rochelle Hicks: Celebrating Mississippi’s Musical Legacy

Exploring Jacksonville with Katie Mitura: The Flip Side of Florida

Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference

Insights from James Ferrara on Inteletravel’s Growth and Future

Tricia Handley-Hughes on Inteletravel’s Growth and Challenges

Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail

Sophia Hyder Hock on Global Social Inclusion in Tourism
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari

true