SAS’s third quarter in the company’s financial year shows another loss of billions. This time there was a loss of SEK 1.4 billion, which is significantly better compared with the third quarter of the previous financial year when the company lost almost SEK 2.1 billion.
SAS reports a loss of almost SEK 1.4 billion before tax for the company’s third quarter in the company’s broken financial year. It is mainly the impact from the pandemic that is behind the loss, which is significantly better than the loss of SEK 2.1 billion before tax that the company had in the corresponding period last financial year.
Anko van der Werff. (Photo: SAS)
Despite the loss of billions, the third quarter showed a number of bright spots for SAS. Total revenue for the company increased by 106 percent compared to the second quarter, the number of passengers increased by 144 percent and the cabin factor increased by 23 percentage points to 52 percent. At the same time, however, there is a long way to go before the levels before the pandemic when SAS reported profits, which is shown when revenues are 70 percent lower for the third quarter compared with the same quarter in 2019.
SAS’s new CEO Anko van der Werff states in the quarterly report that the recovery for the aviation industry depends on how the pandemic develops. At the same time, SAS expects that travel will increase in the future as more and more people are vaccinated and that more leisure travelers and increased competition are to be expected. In addition, Anko van der Werff emphasizes that travelers book their tickets closer to the departure date, which means that the ability to flexibly scale up and down will be a crucial success factor for the aviation industry in the future.