Air Transport World

SAS Group. (News Briefs: Europe Report).(loss )(Brief Article)

SAS Group reported an after-tax loss of Sek1.6 billion ($201 million) for the quarter to March 31, widened from a deficit of Sek1.3 billion in the year-ago period. While describing the quarter as all in all ... the worst ever for the airline industry," CEO Joergen Lindegaard termed the results "totally unacceptable."

Consolidated group operating revenues slipped 0.5% to Sek13.7 billion while revenues at Scandinavian plunged 13% to Sek7.4 billion. EBIT was a negative Sek1.l billion compared to an operating loss of Sek664 million last year.

At other group airlines, Spanair posted revenues of Sek1.4 billion, up 1.7%, while operating loss widened to Sek343 million from Sek253 million in 2002. …

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