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SAS reports losses of 90 mln dollars during flight ban

Updated:2010-04-23 15:49:29

Scandinavian airline SAS lost 630 million kronor (about 90 million U.S.dollars) because of air traffic disruptions caused by the volcanic eruption in Iceland, local media reported Thursday.

A report in the Swedish Daily Svenska Dagbladet said the losses made the company’s record loss in the first quarter even worse, but still slightly better than during the same period last year.

SAS reported a loss of 972 million kronor (about 135 million U.S.dollars) for the first quarter of 2010, compared with 979 million kronor (about 136 million U.S.dollars) in the same period in 2009.

SAS CEO Mats Jansson said in a statement that the fallout from the volcanic ash disruption was likely to have a serious impact on the entire airline sector this year.

"With the exception of the recent events, there is indication of an increase in demand in SAS markets, but there remains significant uncertainty over yield developments," Jansson said.

SAS, which is mostly owned by Sweden, Denmark and Norway, reported that it has implemented two-thirds of its planned savings program, known as Core SAS, with an earning effect of 750 million kronor (about 107 million U.S.dollars) in the first quarter, a relatively satisfactory result.

 

 

Source:http://news.xinhuanet.com

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