Profits up for SAS

Scandinavian airline SAS reported on Wednesday that it had raised net profit in the second quarter by 10.8 percent to 553 million kronor from 499 million kronor in the same period of last year.

Pre-tax profit rose by 9 percent to 643 million kronor.

Excluding capital gains and non-recurrent items, profit was 894 million kronor, up from 579 million euros. This was in line with average forecasts by analysts.

Sales rose by 11.8 percent to 17.9 billion kronor from 16 billion kronor and exceeding the figure of 17.4 billion kronor expected by analysts.

The interim CEO of Scandinavian Airlines System Gunnar Reiten said that the trend of air traffic had been favourable during the first half of the year and had risen in the second quarter, growing by 7.3 percent.

The number of passengers carried by SAS in the second quarter had risen by 6 percent to 10.3 million.