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Sweden's SAS reports Q4 profit

Sweden's SAS reports Q4 profit

February 9th, 2011 in News

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.