SAS profits fall

Victoria
By Victoria August 10, 2012 13:53

SAS profits fall

Second quarter profits fell by 42% to DKK320m compared to DKK551m in the same period last year. Revenues rose by DKK11.39 billion to DKK11.31 billion thanks to increased passenger numbers. The earnings were below expectations but the CEO Rickard Gustafson said that the group’s cost-cutting program, which aims to save 5 billion kronor at 2012-13, is starting to take effect.
“The relatively high jet-fuel price fell slightly during the second quarter only to increase again during July, constituting a major challenge for the entire aviation industry,” he said. Costs for fuel rose some 800 million kronor in the quarter compared with the same period in 2011.

Victoria
By Victoria August 10, 2012 13:53
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