Air Transport World

SAS Group.(first-half earnings, 2003 earnings warning)(Brief Article)

SAS Group warned that it expects to suffer a 2003 consolidated loss of about Sek2 billion ($245 million) before tax, capital gains and restructuring costs as it reported that net income for the second quarter fell to just Sek66 million from Sek968 million last year. Operating revenue dropped 14.4% to Sek15.3 billion as passengers declined 8.3% and RPKs slipped 3.8%. Operating expenses were down 6.3% to Sek13.69 billion, resulting in operating income of Sek272 million compared to Sek1. …

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