SAS makes higher profit than expected
04 Dec 2018, 20:54 ( 8 days ago)
Scandinavian Airlines, usually known as SAS, reached during the fiscal fourth quarter of the year a higher profit than anyone expected, the Swedish Television SVT reported on Tuesday.
For the fourth quarter of the year, August to October, SAS made a pre-tax profit of 809 million SEK (90 million U.S. dollars). During the same period last year, SAS's profit was 657 million SEK (73.1 million U.S. dollars).
"These numbers are in the upper range of our forecast," SAS CEO Rickard Gustafson told SVT.
Despite the good results, SAS predicted that higher fuel prices and a weak krona will decrease the income of the first quarter of 2018-2019. Also, the impact that aviation tax has on travel is difficult to estimate.
"We are put to a big test now in the low season, November to February, because it is usually a weak season for flights," Gustafson said.