the First quarter in the company’s broken fiscal year tends to be a seasonally weak quarter for SAS, but the loss for the year is larger than last year, even if the result is slightly better than expected.
the Loss before tax for the period from november to January was 576 million, compared with a loss of 285 million in the corresponding period of the previous year. Expected was a loss of eur 665 million, according to Reuters.
SAS ceo Rickard Gustafson is not happy but has several explanations to the development.
– It is possible to refer to two very specific things: that the price of oil is higher today than a year ago, and that the Swedish krona has developed very negative against the dollar, ” says Rickard Gustafson, TT.
pressure on the fares at the moment, at the same time, Rickard Gustafson opportunities to a stabilization of the price structure.
” Many carriers have announced that they will pull down its growth rate slightly. There is still growth from the high levels, I would say, but it possibly could mean more stability in the price trend. Only time will tell, ” says Rickard Gustafson.
Before the important summer season, notice the SAS of a slightly lower pressure.
– at the height of summer it is perhaps a little slower than what we hoped for, during certain weeks and to certain destinations. It can be due to many will remember the fine scandinavian summer last year and maybe wait a while before booking their travel, ” says Rickard Gustafson, who at the same time say that his overall view is that the booking situation looks as expected.
the SAS are sticking to our forecast of a positive result before items affecting comparability for full-year 2018/2019. Closer than that, Rickard Gustafson does not specify the prospects.
creating uncertain market prospects as fluctuations in oil price and currency, the difficulty to predict how the capacity of the market will develop, and the question of where the business cycle is on the way.
” We also see continued large-scale geopolitical issues there is still a lot of questions about, not least when it comes to brexit. This can affect us. Therefore we choose to be a little more cautious and wait a while to give a more clear guidance, ” says Rickard Gustafson.
Rickard Gustafson, SAS president, photographed at the headquarters in Solna. Arkivbild.
Jessica Gow/TT
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