Unexpected Profit for SAS
The Scandinavian Airlines SAS has posted a surprise pretax profit for the third quarter. The 21 million dollar profit compares to a 270 million dollar loss in the same period last year.
The company attributes the unexpected result to cost cuts and lower prices on fuel. During the quarter the number of passengers dropped by 14.7 percent
SAS, which is half owned by the governments of Sweden, Denmark, and Norway, says talks with unions on further cost-cutting measures have resulted in around 18 million dollars in savings.
Meanwhile, the Swedish civil aviation authorities reported Thursday that the total number of passengers at Swedish airports in October was 2.5 million, a decrease by 9 percent compared to the same month last year. The drop during the first nine months of the year was 12 percent, compared to 2008.