
SAS lost one billion SEK in March
SAS reported a significant loss of over one billion Swedish kronor for March, amid its ongoing restructuring and bankruptcy protection. Despite a turnover of 3.6 billion Swedish kronor, possibly boosted by Easter travel, the outcome was negative, partially due to currency effects. The Swedish krona’s drop against the dollar has a detrimental impact, as fuel and lease contracts are often settled in dollars. According to analyst Jacob Pedersen from Sydbank, even excluding this factor, SAS has had a very weak fiscal year start. With a total deficit of nearly 3.3 billion Swedish kronor since November 1, SAS anticipates leveraging the summer’s high earning potential to recover. The US approved the restructuring plan, with approval from Swedish authorities and the EU pending, with completion expected by mid-2024. SAS’s management anticipates a pre-tax result, ranging from a deficit of one billion Swedish kronor to break-even.