SAS is Scandinavia’s leading airline and has an attractive offering to frequent travelers. SAS offers more than 800 flights daily, and a total of more than 28 million passengers travel with SAS to 119 destinations in Europe, the US and Asia. Membership in Star Alliance™ provides SAS’s customers with access to a far-reaching network and smooth connections. Altogether, Star Alliance offers more than 18,500 daily departures to 1,330 destinations in 192 countries around the world.

President’s comments

Commercial successes contribute to positive earnings

SAS delivered notably improved earnings in 2014/2015. This improvement was primarily driven by our commercial successes, cost measures and, at the end of the year, by lower jet-fuel costs. Over the last few years, we have strengthened the offering aimed at frequent travelers and this has delivered manifest results. We expect increased capacity growth in the market in 2016 and even more intense competition as a result.

Rickard Gustafson President and CEO

Read Rickard Gustafson’s comments

The year in brief

SAS overview 2014/2015

The positive earnings during the fiscal year 2014/2015 contributed to an improvement in several of SAS’s financial key figures. SAS had no financial net debt for the first time since 2008.


The EBIT margin posted a year-on-year improvement of 5.2 percentage points to 5.6%.


As well as the positive earnings, the equity/assets ratio improved due to realized currency hedges linked to future aircraft orders.


Positive cash flow contributed to a positive trend for financial preparedness in 2014/2015, despite the repayment of a convertible bond loan of SEK 1.6 billion.

Quick facts

Passengers: 28,1 million
Frequent travellers: 2 million
Daily departures: 805
Routes: 261
Destinations: 119
Aircraft in service: 152
EuroBonus members: 4,2 million

Our Vision

Our vision is to make life easier for Scandinavia´s frequent travelers. With SAS you are part of a community experiencing easy, joyful and reliable services, delivered the Scandinavian way.


We are Scandinavian by name and by nature and our operational promises are:
Safety, Punctuality, and Care


Industry overview

Conditions and challenges facing the airline industry

The airline industry is characterized by intense competition and price pressure that entail a continuous requirement to enhance efficiency. Greater prosperity and attractive pricing have both contributed to turning the airline industry into a growth sector with average annual growth of 5.8% between 1980 and 2015. Global growth is expected to be about 5% over the next 20 years.

Due to its international exposure, SAS and many other major international airlines are affected by the economic trend and events that have an effect on economic activity.

Read the Industry overview



SAS strategic priorities

SAS’s work is based on three strategic priorities to meet trends and industry developments, ensure competitiveness and provide the prerequisites for long-term sustainable profitability.

Read about the strategic priorities


Sustainability is integrated into daily operations

Air travel is a global, collective mode of transport that contributes to creating economic growth and international integration. As a responsible operator in a rapidly changing sector, long-term sustainability is a given. SAS’s detailed sustainability efforts are reported in a separate sustainability report.

Read about sustainability at SAS


SAS will…

  • …reduce flight emissions by 20% in 2020 compared with 2010.
  • …reduce noise emissions on take-off by 15% in 2020 compared with 2010.
  • …regularly use renewable jet fuel in 2020.

Learn more about SAS in 2015

The Web version of the SAS Annual Report highlights a selection of the most requested information from the annual report. If you want to read the complete report you can download it as a pdf version.

In the PDF you will find additional information, such as market development, our work on quality and safety, the corporate governance report, and the accounts.

Download the full version of the report as a PDF.