SAS: Good quarter, poor year

The Scandinavian Airlines SAS had a good fourth quarter, but reported an unexpectedly high loss for all of 2010.

SAS posted a net profit for the fourth quarter of more than US$ 7 million, compared to a loss of around US$ 200 million during the same period in 2009.


But for the full year 2010 the airline noted a loss of more than US$ 300 million. That was more than expected by analysts, but still US$ 100 million better than the year before.

The company, mostly jointly owned by the Swedish, Norwegian, and Danish states, says its cost-cutting program, Core SAS, helped reduce expenses by more than 8 percent during the year.

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