Net profit for October-December 2010 period reaches €5.35 million
The Scandinavian airline company SAS AB today posted a net profit for the fourth quarter, showing a recovery from a difficult period of losses and cost cutting.
Net profit for the October-December 2010 period reached SEK 47 million (€5.35 million). That compares with a loss for the same quarter in 2009 of SEK 1.3 billion. Sales for the quarter were up slightly year-on-year, reaching SEK 10.56 billion.
The company reported a hefty overall loss for the full year 2010 of SEK 2.2 billion, not helped by the volcanic ash-cloud crisis in April that badly affected travel in the airline’s key market of Western and Northern Europe. But that is a better result than the severe loss for the previous year of SEK 2.9 billion.
The airline’s acting CEO John Dueholm told Bloomberg that “we can now devote our energy to looking forward and focusing on our core operations,” adding that the group’s aircraft are now “more well-filled than ever before.”