Air Transport World

SAS Group.(Europe Report)(Brief Article)

SAS Group lost Sek1.87 billion ($268.1 million)in 2004, worsened from Sek1.41 billion in 2003, while its fourth-quarter deficit widened to Sek636 million from Sek581 million. Excluding capital gains and nonrecurring items, however, the fourth-quarter loss actually shrank to Sek344 million from Sek415 million in 2003, prompting President and CEO Joergen Lindegaard to laud "the best fourth-quarter results in four years."

For the full year, results before capital gains and nonrecurring items also improved, from a loss of Sek2.22 billion in 2003 to a loss of Sek1.81 billion in 2004. While describing the results as "clearly unsatisfactory," Lindegaard tentatively forecast they will be better this year, including posting "positive earnings. …

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