Oil prices and uncertainty regarding Spanair impact results
In its latest interim report for January-September 2011, just released today, SAS Group has posted reduced earnings for the quarter July-September of MSEK 10,616, up slightly from MSEK 10,776 in the same quarter last year. The number of passengers carried rose by 0.3 million, or 4.1%. Net income for the period declined to MSEK 214.
Key ratios for the January-September period include MSEK 31,248 in revenues, up from MSEK 30,417 for last year and a rise of 1.7 million passengers, up 9.4%. Net income for the year is MSEK 392 (-2,265). The figures show that passenger and revenue increases are weakening and net income continues to fall. Oil prices and uncertainty are impacting results, SAS said, as well as uncertainty regarding Spanair.
[photo courtesy SAS]