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CARLSBERG

Danish brewer Carlsberg posts loss after Russia exit

Carlsberg reported a loss for the first half of the year on Wednesday as the Danish brewer's decision to exit Russia hit its bottom line despite surging sales.

Danish brewer Carlsberg posts loss after Russia exit
Carlsberg announced a dip in profits after quitting the Russian market. File photo: Yves Herman/Reuters/Ritzau Scanpix

Russia accounted for nine percent of Carlsberg’s profits last year, but the group decided to sell its operations there, joining a foreign business exodus following Moscow’s invasion of Ukraine and Western sanctions against the country.

The group booked losses totalling 5.3 billion kroner ($721 million) in the first six months of the year.

But the company reported a 23 percent increase in revenue to 35.4 million kroner over the same period, pushed up by its Carlsberg and Tuborg brands.

Despite the loss, Carlsberg CEO Cees’t Hart said the group’s half-year results were now “well ahead” of pre-pandemic levels.

“We’re very satisfied with the strong set of results for the first half year in light of the severe challenges stemming from the war in Ukraine, rising commodity prices and energy costs, and the pandemic,” Hart said in a statement.

But he warned that “global uncertainty remains high”, with rising costs posing a challenge in coming quarters as inflation soars worldwide.

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SAS

Scandinavian airline SAS plans to launch electric planes in 2028 

Despite a number of economic challenges, airline SAS has announced an agreement with a Swedish company that will enable it to purchase electric aircraft and add them to its fleet. 

Scandinavian airline SAS plans to launch electric planes in 2028 

SAS has signed an agreement with Swedish company Heart Aerospace that could see it operating electric planes from 2028, the airline said in a press statement.

The model of plane that SAS would purchase from Heart Aerospace seats 30 passengers and has a range of 200 kilometers, SAS wrote.

“Along with the entire industry, we are responsible for making air travel more sustainable,” CEO of SAS Anko van der Werff said in the statement.

“SAS is dedicated to transforming air travel so future generations can continue to connect the world and enjoy the benefits of travel – but with a more sustainable footprint,” he said.

The aircraft will be installed with a hybrid system enabling them to double their range, SAS wrote.

“This has the potential to be a significant step on SAS’ sustainability journey, enabling zero-emission flights on routes within Scandinavia,” the press release stated. 

SAS has previously been involved in the development of another electric aircraft, the ES-30, which it partnered with Heart Aerospace on in 2019.

“The electric airplane will be a good supplement to our existing fleet, serving shorter routes in Denmark, Norway and Sweden in a more sustainable way,” van der Werff said.

READ MORE: SAS cancels 1,700 flights in September and October 

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