STOCKHOLM, Sweden, December 09, 2002 (PRIMEZONE) --The SAS Group (Other OTC:SASDF):
- The SAS Group transported a total of 2.6 million passengers in November 2002 vs 2.0 million in 2001, an increase of 32%.
- Overall group passenger load factor increased by 3.3 p.u to 60.1% for
November 2002 vs. 2001
- Scandinavian Airlines traffic (RPK) increased by 4.2% in November 2002 compared with 2001.
- Scandinavian Airlines passenger load factor increased by 4.1 p.u. to 63.4%
- Scandinavian Airlines passenger load factor on intercontinental routes increased by 5.7 p.u. to 76.0%.
Improved passenger load factors, but continued pressure on yields in Scandinavian Airlines
When comparing November 2002 with 2001 it is important to take into account the weak comparable figures in the aftermath of the September 11 attacks last year. Since the situation last year, capacity has been reduced significantly on Scandinavian Airlines routes. A new traffic program was introduced October 27 with additional reduced capacity on Swedish domestic routes and termination of the Greenland route. The new traffic program has also increased point-to-point rotation of aircraft from less than 50% to 99%.
Among the group's airlines Braathens showed a strong increase in passenger load factor of 8.4 p.u. while Spanair was affected by weaker demand. Wideroee's showed strong growth and improved passenger load factors.
Early indications of passenger yields in November show pressure on yields for Scandinavian Airlines as a result of change of routes, negative mix, campaigns and other market activities Yield (unit revenues) for October 2002 was down 11.8% vs October 2001. Currency adjusted the reduction was 8.8%. Accumulated yield from January 2002 - October 2002 was down 2.1% or 2,9% currency adjusted. The overall yield development is significantly affected by more capacity on intercontinental routes with lower yields. As comparison, the yield on European routes was down approx 2-3% in October, approximately same levels as 3rd Quarter 2002.
The continued improvements in passenger load factors for all airlines in the SAS Group are according to set out plan, but the yield development is still weak for Scandinavian Airlines. The overall market outlook remains negative for the coming months as a result of economic slowdown in Scandinavia and weaker world economies and general market development.
SAS Group Investor Relations December 9, 2002 Investor information on the Internet http://www.scandinavian.net
SAS Group NOV NOV Change JAN- JAN- Change
2002 2001 NOV 02 NOV 01
ASK (Mill.) 3905 4034 -3.2% 43,582 47,978 -9.2%
RPK (Mill.) 2346 2290 2.5% 28,713 29,791 -3.6%
Passenger load 60.1% 56.8% +3.3 pu 65.9% 62.1% +3.8 pu
factor
Total no. of 2.604 2.751 -5.3% 30,984 33,302 -7.0%
passengers (Mill.)
p u = percentage units
SAS Group NOV 02 vs. JAN-NOV 02 vs.
NOV 01 JAN-NOV 01
per
route area
(change):
Traffic Capacity (ASK) Traffic Capacity
(RPK) (RPK) (ASK)
Intercontinental 16.3% 4.7% -0.2% -103.1%
Europe 1.2% 1.5% -3.4% -8.2%
Intra- -10.4% -9.6 -5.6% -3.1%
scandinavian
Denmark -32.5% -35.4% -12.8% -3.3%
(domestic)
Norway -5.1% -14.1% -8.1% -13.8%
(domestic)
Sweden -10.9% -18.7% -7.7% -8.4%
(domestic)
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http://www.waymaker.net/bitonline/2002/12/09/20021209BIT00280/wkr0002.pdf