Air Transport World

SAS Group:

After four years of losses, SAS Group, parent of Scandinavian Airlines Businesses, Spanair, Wideroe and Blue1, returned to profit in 2005 with net income of SEK255 million ($32.9 million) compared to a SEK1.77 billion loss in 2004. It was profitable on an operating basis for the first time since 2002 with EBIT of SEK1.37 billion on revenue of SEK61.89 billion. Passengers rose 8% to 34.9 million. SAS credited the recovery to the impact of Turnaround 2005, its multiyear efficiency program that has led to savings of SEK14 billion since 2002.

The turnaround allows CEO Jorgen Lindegaard to depart on a high note. Lindegaard, who joined the company in May 2001 as it entered the most challenging period in its history, recently announced he will step down this fall. …

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