SAS: 'disappointing' results, the share falls -4%

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The title of the Scandinavian airline is down more than 4% after announcing its quarterly results. It is now down more than 42% since the beginning of the year.The company, which is partly owned by Sude, Norway and Denmark, posted a net profit in the third quarter of SEK 1.16 billion for the period from May to 2019, up from 1.57 billion a year earlier.

SAS attributed this decrease to higher fuel costs, continued weakness in the Swedish krona against the US dollar and a pilots' strike early in the quarter.

Due to new passenger records in June and July, sales reached 13.55 billion kronor, up more than 3 percent from the same quarter last year.

According to SAS, several problems remain unchanged, in particular the continued weakness of the Swedish krona against the US dollar and the euro, as well as a slowdown in European and global economies.

The group has its perspectives for the year. He estimates that it will be difficult to achieve a positive result for the whole of 2019.

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Source link
https://www.zonebourse.com/SAS-AB-9058794/actualite/SAS-resultats-decevants-l-action-chute-de-4-29118297/

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