SAS posts 500 Million DKK loss in February

The airline SAS has reported a loss of nearly 2.3 billion Swedish kronor (around 1.5 billion Danish kronor) from November through February, with February alone accounting for a 535 million Danish kronor deficit. This loss is slightly greater than predicted, although revenue met expectations. The February 2024 earnings were modestly better compared to the same month last year, bolstered by the leap year that increased revenue without corresponding cost increases. SAS’s February revenue increased by approximately 400 million Swedish kronor compared to February 2023. Jacob Pedersen, a stock analysis chief, believes SAS needs to undertake more improvements to reach the profitability level of its competitors. The company is progressing through a Chapter 11 bankruptcy process in the US, with a reconstruction plan approved but still pending regulatory consent in Sweden and the EU, including the Danish state’s ownership increase and Air France-KLM’s investment in SAS.