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.

Our journalism is based on credibility and impartiality. Swedish Radio is independent and not affiliated to any political, religious, financial, public or private interests.
Du hittar dina sparade avsnitt i menyn under "Min lista".