SAS reverses losses

During the first nine months of the year, SAS Scandinavian Airlines has recorded a net profit of SEK439 million ($52 million) compared to a SEK416 million net loss in the year-ago period. The airline’s revenue increased by 6.3% during the reporting period to SEK28.7 billion. During the third quarter, SAS posted positive income before tax and non-recurring items of SEK996 million. SAS credits its improved financial performance to improved passenger flows coupled with cost-cutting measures. SAS president and CEO Rickard Gustafson said: “SAS’s clear focus on Scandinavia’s frequent travelers is generating results and we now have more than four million