‘Weak numbers’: Scandinavian airline SAS files loss in latest result 

Economic headwinds are continuing for Scandinavian airline SAS, which has posted a loss of 2.7 billion Swedish kronor for the first quarter of this year.

‘Weak numbers’: Scandinavian airline SAS files loss in latest result 
A SAS aircraft at Los Angeles International Airport in 2021. The Scandinavian airline has posted another disappointing quarterly result but remains bullish in its financial report. Photo by Beckett P on Unsplash

Scandinavian airline SAS has posted a loss of 2.7 billion Swedish kronor (1.8 billion Danish kroner) for the last three months ending in January.

The loss is around 300 million kronor more than the one registered in the same period last year, Danish news wire Ritzau reports.

The result covers the period from November to January.

Although revenue increased by 2.3 billion kronor compared with 12 months earlier, profit did not keep pace due to higher costs.

SAS has been in a restructuring process since summer 2022 as part of its SAS Forward plan, and has applied for Chapter 11 bankruptcy protection in the US.

CEO Anko van der Werff cited an increase in passenger numbers by 48 percent compared to last year as a positive element of the result.

“We are happy that so many passengers are returning to SAS,” he said in the statement.

Around 4.5 million passengers flew with SAS in the last quarter. A year prior, travel was still largely restricted due to the coronavirus pandemic.

But SAS’ failure to raise its profit amid the increase in passengers is disappointing for the airline according to stock market analyst Jacob Pedersen of Sydbank.

“You would think that SAS would earn more money when their passenger numbers go up by almost 50 percent but they didn’t,” Pedersen told Danish news wire Ritzau.

“In that sense these are really weak numbers,” he said.

But the company is showing self-confidence by raising its economic forecast for this year, he also said.

“Especially when you consider that there’s an outlook for in recession in Europe later this year,” he said.

“Things don’t usually go well for airlines during periods of recession,” he said.

SAS expects its revenues next year to approach the level seen prior to the pandemic.

In 2025 the company expects to earn “more than 49 billion Swedish kronor” according to its latest financial report. That is an adjustment upwards from previous expectations.

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Denmark’s Great Belt Bridge to offer reduced tolls for commuters

A new discount system launched by the operators of Denmark’s Great Belt Bridge is designed to offer savings to people who live on one side of the bridge and work on the other.

Denmark’s Great Belt Bridge to offer reduced tolls for commuters

The Great Belt Bridge, a 7-kilometre, fixed-link bridge which connects the islands of Funen and Zealand, can cost up to 250 kroner for a single crossing in a normal passenger car.

Operator Sund & Bælt on Friday announced a new discount for commuters who cross the bridge 15 times or more in a month.

The deal could be particularly beneficial for people who live in Jutland or on Funen but travel regularly to Copenhagen for work.

The new discount system launches on May 1st, Sund & Bælt said in a press statement.

Specifically, private motorists who are registered to pay the toll fee via either the Bizz card or number plate recognition will automatically receive a discount if they cross the bridge more than 14 times within a calendar month.

This is because while the first 14 journeys across the bridge will cost the regular price, all subsequent journeys will cost 0 kroner until the 50th journey, when the price returns to normal. The number resets at the beginning of each month.

Provided payment is set up through one of the two methods mentioned above, bridge users do not need to register or pay anything in advance to benefit from the discount.

Customers who use the existing Storebælt Pendleraftale discount by planning their journeys to fit with the number of crossings provided by that deal could see a “small price increase” under the new system, Sund & Bælt said in the statement. Commuters unable to plan their journeys or who drive during weekends and evenings are likely to find the price drops slightly, it added.

Further information on the discount can be find on the Sund & Bælt website.

Earlier this week, the Øresund Bridge between Copenhagen and Malmø also announced a change to its pricing structure.