The SAS Group Traffic figures August 2009
SAS Group’s August traffic figures
• SAS Group’s traffic decreased by 17.1% during August and seat capacity was down 20.5% vs. 2008.
• SAS Group carried 2.0 million passengers in August, down 15.7% vs. 2008.
• Total passenger load factor in August was 76.1%, up 3.1 p.u. vs. August 2008.
Group market trends and yield development
The yield for Scandinavian Airlines in July was down by 3.2% as expected. For August 2009, the change in yield is expected to be more negative indicating further yield pressure going forward. The summer leisure traffic developed well and combined with capacity reductions helped to improve load factor by 3.1 p.u. in August. The yield pressure in combination with the weak demand adds further challenges to the industry and requires actions in order to mitigate the negative revenue impact. Negotiations with unions with the objective to reduce costs have been initiated. The market continues to be unpredictable and the uncertainty regarding the timing of the recovery is considerable.
The SAS Group is currently implementing a new strategic approach – Core SAS – to secure a future profitable SAS. The strategy includes cost initiatives of SEK 4.5 bn as well as a 20% reduction in capacity. The implementation is well on track. An additional SEK 2.0 bn cost savings was initiated in August 2009.
For further information Please contact VP,Head of SAS Group Investor Relations Sture Stølen
+ 46 8 797 1451 firstname.lastname@example.org