Sweden’s SAS reports Q4 profit
Wednesday, February 9, 2011
STOCKHOLM (AP) — Scandinavian airline company SAS AB has recorded a net profit for the fourth quarter, mainly on the back of lower costs.
Wednesday’s report showed a net profit of 47 million kronor ($7.3 million), compared with a loss of 1.3 billion kronor, at the same time last year.
For the full year 2010, it reported a loss of 2.2 billion kronor, narrowed from 2.9 billion kronor in 2009.
The Stockholm-headquartered says sales in the three-month period ending Dec. 31 reached 10.56 billion kronor, up slightly from 10.3 billion kronor in the same quarter a year earlier.
The company said its cost-cutting program, Core SAS, has helped slash costs by over 8 percent during the year.