STOCKHOLM, Sweden, April 07, 2003 (PRIMEZONE) -- The SAS Group (Other OTC:SASDF) transported a total of 2.6 million passengers in March 2003 vs 2.8 million in 2002, a decrease of 6.0%.
-- Total traffic (RPK) decreased by only 4.5%.
-- Overall group passenger load factor decreased by 5.9 p.u to 61.5% for March 2003 vs. 2002.
Market trends and yield development The current macroeconomic environment remains very challenging for all airlines in the group. In addition to the weak economies, the conflict in Iraq and the situation with the SARS virus is currently affecting bookings and putting additional pressure on traffic development. Indications of passenger yield development in February show continued pressure on yields for Scandinavian Airlines as a result of negative mix, campaigns and other market activities. Yield (unit revenues) for February 2003 was down 13% vs February 2002. It must be noted that the yield is also significantly affected by more capacity on intercontinental routes with lower yields. Yields on the European routes were down 5-6% in February.
The yield development in February/ March is in line with the figures reported for the previous months, however the demand and traffic volumes have weakened further and as a result capacity has been reduced by 5-10% in Scandinavian Airlines, Braathens and Spanair. Forceful measures are initiated to offset the negative development in passenger volumes and yield. The direct effects from the Iraq situation is very limited on domestic and Intrascandinavian traffic, but noticable on the U.S and U.K routes. The situation with the SARS virus in Asia is also putting pressure on bookings to/ from the region and adds additional uncertainties to the current situation. The outlook remains negative.
Scandinavian Airlines
- Scandinavian Airlines traffic (RPK) decreased by 7.7% inMarch 2003 compared with 2002.
- Scandinavian Airlines passenger load factor decreased by 6.2p.u. to 63.2%
Intercontinental traffic increased by 2.9% in March. Traffic to/from the U.S was weak due to the current conflict in Iraq. The traffic to/ from south east Asia was affected by the SARS situation. The demand on the European routes continued to be weak and traffic was down 10.1%.
Intrascandinavian traffic continued to be weak. Danish domestic traffic was down mainly as a result of the discontinued Greenland route. The Norwegian and Swedish domestic traffic is affected by changes in the networks and the markets continued to be weak.
For further information
Please contact The SAS Group Investor Relations Sture Stoelen
+ 46 8 797 1451 sture.stolen@sas.se
Homepage: www.sasgroup.net
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/04/07/20030407BIT00360/wkr0001.doc
Traffic figures:
http://www.waymaker.net/bitonline/2003/04/07/20030407BIT00360/wkr0002.pdf