SAS Q3 results below expectations

Scandinavian airline SAS third-quarter pretax profit is below expectations as the carrier battles with high costs and severe competition from Ryanair and Norwegian Air. The airline was also forced to lower its outlook as well due to worsening economic conditions. The airline made a pretax profit of 276 million crowns ($42 million) in the third quarter. And for the nine months of the year, SAS’s pretax profit is 448 million crowns. The fourth quarter is expected to be poor for the airline.