Reduction in business travel drags SAS into Q4 loss
SAS, the Scandinavian carrier, has announced a sharp fall into losses in the fourth-quarter.
The Stockholm-based airline lost SKr997m in the three months to the end of December, compared with a profit of SKr1.35bn in the same period a year previously.
The company said the events of 11 September, the subsequent acts of war and substantially reduced business class traffic were the main reasons for the poor performance in the fourth quarter.
Jorgen Lindegaard, SAS’s president, said the company was particularly badly hit because of the relatively high proportion of business traffic it carries. In October, business class traffic on routes between the US and Scandinavia slumped by more than half.
The company said that it expected the weak demand to continue in the first half of 2002 but that there will be some improvement in the second half of the year.
The group forecast further losses for 2002 and described the situation at its core airline operation as “precarious”.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025