Expected earnings before tax better than previously communicated on the back of strong passenger figures
SAS’ outlook in the third quarter report was “that it will be challenging to reach a positive result before tax and items affecting comparability in fiscal year 2019”. As a result of strong passenger figures and an improved unit revenue, the outlook is revised as SAS’ earnings before tax and items affecting comparability is estimated to be in the range of SEK 700-800 million for the fiscal year 2019.
– Despite a challenging year we are pleased with a strong performance across our operations during the last months of fiscal year 2019. We are encouraged by an improved supply/demand balance in Scandinavia and that our product offering combined with our determined efforts toward more sustainable air travel continues to attract more customers to fly with us, says Rickard Gustafson, CEO of SAS.
SAS’ total traffic capacity increased with 2.2% and the number of passengers increased with 3.6% compared to October 2018. Regularity and punctuality also showed a strong improvement with an increase of 0.8 percentage points and 1.5 percentage points respectively.
Domestic revenue passenger kilometers (RPK) increased by 5.7% across the three Scandinavian countries. The growth was also substantial on European/Intrascandinavian routes where RPK increased with 5.5%. Total passenger load factor increased with 0.7 percentage points to 76.3% and supported an improved currency adjusted unit revenue and yield, which increased with 2.3% and 1.6% respectively.
SAS will publish its interim report for August–October 2019 on 5 December 2019 at 08:00 CET.
| SAS scheduled traffic | Oct19 | Change1 | Nov18-Oct19 | Change1 |
| ASK (Mill.) | 4 421 | 2.1% | 48 471 | -1.1% |
| RPK (Mill.) | 3 324 | 2.9% | 35 825 | -1.8% |
| Passenger load factor | 75.2% | +0.6 p.p. | 73.9% | -0.5 p.p. |
| No. of passengers (000) | 2 730 | 3.5% | 28 451 | -1.2% |
| Geographical development, schedule | Oct19 vs. Oct18 | Nov18-Oct19 vs. Nov17-Oct18 | ||||
| RPK | ASK | RPK | ASK | |||
| Intercontinental | -1.4% | 1.6% | -3.3% | -3.0% | ||
| Europe/Intrascandinavia | 5.5% | 1.8% | -1.6% | -0.9% | ||
| Domestic | 5.7% | 3.9% | 1.0% | 2.0% | ||
| SAS charter traffic | Oct19 | Change1 | Nov18-Oct19 | Change1 | |
| ASK (Mill.) | 282 | 3.2% | 3 900 | 3,8% | |
| RPK (Mill.) | 265 | 5.7% | 3 550 | 2,9% | |
| Load factor | 94.0% | +2.2 p.p. | 91.0% | -0,8 p.p. | |
| No. of passengers (000) | 91 | 6.9% | 1 310 | 1.7% | |
| SAS total traffic (scheduled and charter) | Oct19 | Change1 | Nov18-Oct19 | Change1 |
| ASK (Mill.) | 4 703 | 2.2% | 52 371 | -0.8% |
| RPK (Mill.) | 3 589 | 3,1% | 39 375 | -1,4% |
| Load factor | 76.3% | +0.7 p.p. | 75.2% | -0,5 p.p. |
| No. of passengers (000) | 2 821 | 3.6% | 29 761 | -1.1% |
1 Change compared to same period last year p.p. = percentage points
Definitions: RPK – Revenue passenger kilometers |
For further information. please contact:
SAS press office. +46 8 797 2944
Michel Fischier. VP Investor Relations. +46 70 997 0673
SAS. Scandinavia’s leading airline. carries more than 30 million passengers annually to, from and within Scandinavia. The airline connects three main hubs – Copenhagen. Oslo and Stockholm – with 125 destinations in Europe, the US and Asia. Spurred by a Scandinavian heritage and sustainable values, SAS will reduce total carbon emissions by 25% and operate with biofuel equivalent to equal the total consumption of fuel used to operate all domestic SAS flights, by 2030. In addition to airline operations, SAS offers ground handling services, technical maintenance and air cargo services. SAS is a founding member of Star Alliance™ and together with partner airlines offers almost 19.000 daily flights to more than 1.300 destinations around the world.
Learn more at sasgroup.net
This is information that SAS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by Michel Fischier at 11:00 CET on 8 November 2019.
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