Air Transport World

SAS Group.(Europe)(Brief Article)

SAS Group had second-quarter net income of Sek98 million ($13 million), up 48.9% compared to Sek66 million earned in the year-ago period. But the company had only a breakeven result at the pre-tax level versus income of Sek87 million in 2003 and it repeated its earlier warning that it will not return to profit this year on an operating basis.

Operating revenues declined 1% to Sek15.1 billion while an 8.9% fall in payroll costs largely was offset by a 6% rise in other operating expenses, including a 50% increase in fuel costs. …

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