Scandinavian Airlines-SAS (SAS Group) (Stockholm) despite recent personnel cuts and cost saving measures reported its fiscal third quarter income (ending on July 31) dropped 44 percent to SEK (Swedish Krona) 496 million ($69.5 million).
The group blamed the decline on its challenging market conditions especially coming from Norwegian Air Shuttle. CEO Rickard Gustafson blamed Norwegian for flooding the market with more seats than the market can handle.
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In other news, on Wednesday September 10, SAS moved in to the new Queen’s Terminal at London’s Heathrow Airport. The Queen’s Terminal, or Terminal 2, is the new home of all Star Alliance airlines that fly to Heathrow – in total 23 members.
SAS operates 21 departures and 21 arrivals at the terminal to and from the Scandinavian capitals of Stockholm, Oslo and Copenhagen
and the regional cities Gothenburg and Stavanger. SAS flight SK 500 was the first SAS scheduled flight to operate from Terminal 2.
Copyright Photo: Stefan Sjogren/AirlinersGallery.com. Boeing 737-883 LN-RPM (msn 30195) promoting the SAS Eurobonus program, approaches runway 01R at Stockholm (Arlanda).