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The SAS Group Traffic figures - March 2004

April 13, 2004 12:00

The SAS Group Traffic figures March 2004

Traffic continues to improve
· Total passenger traffic (RPK) increased by 10,0% in March 2004 vs 2003.
· The SAS Group transported a total of 2,8 million passengers in
March 2004 vs 2,6 million in 2003, an increase of 7,9%.
· Overall group passenger load factor improved by 0,9 p.u to 62,3%
for March 2004 vs. 2003.
· Yields for Scandinavian Airlines in February were down 16,8% month
by month.

Market trends and yield development
March group total traffic volumes developed positively with a traffic
growth of 10,0% and improved passenger load factor. On the contrary,
yields are currently very weak and the yield for Scandinavian Airlines
for February was down 16,8%.
Indications for yields in March shows continued strong pressure, but
yield pressure is expected to be less than experienced in February. In
general, growth has improved significantly on European and
intercontinental routes. In March even Intrascandinavian traffic
improved in a market characterized by weak demand and increased
competition. Scandinavian Airlines was Scandinavia’s largest provider of
low fare tickets in 2003 and this will continue further in 2004 as
Turnaournd 2005 forms a platform for profitable growth.
Spanair’s traffic increased in March by 14,4%, but with reduced load
factor. Braathens’ traffic increased 20,5% in March driven by strong
development on international routes.

Yields in January and February have been very weak as indicated in the
previous traffic reports this year and this will have a significant
effect on the revenues for first quarter. Yield indications for
Scandinavian Airlines in March show continued strong pressure, but the
decrease is expected to be less than for the first two months.
The restructuring plan “Turnaround 2005”, is proceeding according to
plan in order to secure a sustained profitability level in a lower yield
environment. Last month negotiations were completed to secure the
remaining SEK 2 billion of Turnaround 2005. Improvements in general
demand and good traffic growth can be noted but due to the situation
with continued yield pressure, the outlook remains cautious.

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The following files are available for download: The full report The full report

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