Air Transport World

SAS group.(EUROPE Report)(Financial report)(Brief article)

SAS Group reported net income of SEK636 million ($98.6 million) for 2007, significantly lower than a SEK4.74 billion profit in 2006 that was attributable mostly to that year's sale of its 65% holding in the Rezidor Hotel Group. Excluding the Rezidor sale, the 2006 profit was SEK164 million. Full-year revenue increased 4.7% to SEK54.11 billion and operating income was SEK1.31 billion, up 29.7%.

President and CEO Mats Jansson noted that "favorable demand" led to a "positive" performance in the first three quarters of 2007. However, SAS endured a SEK625 million loss in the fourth quarter that it attributed mainly to the SEK700 million hit taken from the grounding of its Q400s. …

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