A passenger checks in at a self-service kiosk of Scandinavian Airlines (SAS) at Stockholm Arlanda Airport in Stockholm, Sweden, on May 3, 2019. (Xinhua / Wei Xuechao)
“The corona virus and travel restrictions have led to a decline in demand for air travel. As a result, the number of passengers with SAS fell by 86 percent, and total revenue decreased by 81 percent during the quarter,” said Rickard Gustafson, President and CEO of SAS.
STOCKHOLM, August 25 (Xinhua) – Scandinavian Airlines (SAS) suffered a loss of SEK 2.1 billion (approximately US $ 240 million) in May-July, the company’s third financial quarter (Q3), due to the COVID-19 crisis , according to its Q3 report released on Tuesday.
The loss was in striking contrast to a pre-tax income of SEK 1.49 billion during the same period last year.
The company’s revenues during the third quarter amounted to SEK 2.5 billion, a decrease from SEK 13.4 billion during the same quarter last year.
Passengers check flight information at Stockholm Arlanda Airport in Stockholm on May 3, 2019. (Xinhua / Wei Xuechao)
“The corona virus and travel restrictions have led to a decline in demand for air travel. As a result, the number of passengers with SAS fell by 86 percent, and total revenue fell by 81 percent during the quarter,” said Rickard Gustafson, president and CEO of SAS, in the report.
In addition, more than 4,000 employees who had been laid off since the start of the crisis have been laid off, Gustafson told Radio Sweden on Tuesday.
SAS was founded in 1946 through a merger of the national carriers in Denmark, Norway and Sweden. (1 US dollar = 8.76 SEK) โ
Source: sn.dk