This summer’s pilot strike cost the SAS airline dearly. It is expected that the company will present a loss of just over NOK 1.65 billion for the previous quarter.
On Friday, SAS will present its financial results for the May to July period. Analysts at Sydbank predict that there will be a loss of SEK 1.8 billion, which is even worse than the loss in the previous quarter (SEK 1.6 billion).
“Everything comes down to the pilot strike, which was very costly for SAS. It now completely overshadows the fact that air traffic has returned (to pre-corona levels),” equity analysis manager Jacob Pedersen at Sydbank stated.
SAS had to cancel thousands of flights in July, a month that is historically the company’s most robust. Several of the competitors profited from the SAS strike, including Norwegian, which will present its quarterly figures on Thursday.
Bloomberg predicts that Norwegian will post a profit of almost SEK 2 billion in the same period.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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