SAS: losses double in Q4
(CercleFinance.com) - The Scandinavian airline SAS announced on Thursday that it more than doubled its losses in the last quarter, still dogged by the health crisis, although it said it expects to return to near-normal activity from next year.
The group says it made a net loss of 2.05 billion Swedish kronor (c. 200 million euros) in the quarter from November to January, against a loss of 861 million Swedish kronor a year earlier, with revenues collapsing to 2.3 billion Swedish kronor against 9.7 billion Swedish kronor a year earlier.
In a statement, the group stresses that business continued to suffer from the health crisis, which forced it to reduce its capacities by 75% from one year to the next.
Sequentially, SAS says it was forced to reduce its offer by 29%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The group says it made a net loss of 2.05 billion Swedish kronor (c. 200 million euros) in the quarter from November to January, against a loss of 861 million Swedish kronor a year earlier, with revenues collapsing to 2.3 billion Swedish kronor against 9.7 billion Swedish kronor a year earlier.
In a statement, the group stresses that business continued to suffer from the health crisis, which forced it to reduce its capacities by 75% from one year to the next.
Sequentially, SAS says it was forced to reduce its offer by 29%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.