1,951 Income before tax and
SAS’s strategy is to focus on frequent travelers and to be an airline that rewards its customers for their loyalty to us. The most frequent travelers are also the people with the greatest demands on their travel experience and for whom we develop our product and network. This leads to options that benefit all our customers.
The membership in Star Alliance TM provides SAS’s customers with access to a far-reaching network and smooth connections. Star Alliance offers approximately 18,400 departures each day to 1,300 destinations in 191 countries world wide.
PASSENGERS DURING THE YEAR
AIRCRAFT IN SERVICE
MARKET SHARE IN SCANDINAVIA
SAS makes life easier for people who travel frequently to, from, and within Scandinavia by offering smooth, attractively priced flights for those traveling on business and those traveling privately. We continually develop our services to provide all our travelers with a positive travel experience.
To make life easier for Scandinavia’s frequent travelers.
SAS intends to be part of the long-term sustainable society and supports IATA’s vision of making it possible to fly without greenhouse gas emissions by around 2050.
We close the page on an eventful year. A strong summer led to a significant improvement in earnings following a weak start to the year. Earnings were driven by increased revenue generated by the successful seasonal adjustments to the network, which boosted passenger numbers, and by the implementation of our promised efficiency measures. As a result of the targeted actions to raise profitability, we were able to start recapitalizing SAS in November. This will provide us with the preconditions for lowering financing costs moving forward. The trend confirms that the strategy is leading us in the right direction.READ THE PRESIDENT’S COMMENTS
1,951 Income before tax and
SAS reported positive earnings before tax and nonrecurring items of MSEK 1,951, upMSEK 1,012 year-on-year.
Due to higher jet-fuel costs and downward pressure on prices, earnings trended negatively at the start of the fiscal year. A positive economy and a strong summer, in which SAS increasingly customized its capacity, thereafter contributed to an underlying positive revenue trend. Together with the efficiency measures, these resulted in a significant improvement in profitability.
One of SAS’s strategic priorities is to win Scandinavia’s frequent travelers. By focusing on these customers, we develop our product and our network — which benefits all of our customers. We define frequent travelers as people who take five or more return flights per year. Altogether, they represent around 60–70% of the value of all flights within Scandinavia.
The world is changing and competition within the airline industry is increasing. In light of this, SAS has to adapt its operations to remain competitive. Two clear examples of adaptations are our efficiency enhancement program in Scandinavia, and the fact that we are in full swing with establishing bases in London and Malaga. SAS will thereby be able to compete on the same terms as its competitors.
One of SAS’s strategic areas is securing the right capabilities. Our employees are an important prerequisite for SAS’s future — we share our customers’ passion and interest for travel, which also drives our efforts to strengthen our offering. Our employees’ commitment to our customers and to developing SAS has been crucial to SAS’s historical success and is just as important going forward.
For SAS, sustainable development means continual improvements in the areas of climate and the environment, as well as taking charge of social responsibility. Sustainable development also assumes continuously striving for sustainable profitability and financial growth. As an employer, and a purchaser and producer of infrastructure, SAS has a significant societal impact.
At the same time, the airline industry has a significant climate and environmental impact, mainly from greenhouse gas emissions and airport noise. SAS’s ambition is that the products and services offered will enable more sustainable societal development globally, with the smallest climate and environmental impact possible.