STOCKHOLM, Sweden, Oct. 9, 2002 (PRIMEZONE) -- SAS (Other OTC:SASDF):
1. The SAS Group September traffic development - highlights
- The SAS Group transported a total of 3,1 million passengers in September 2002 vs 2,2 million in 2001, an increase of 40% - Overall group passenger load factor increased by 7,6 p.u to 69,4%. - Scandinavian Airlines traffic (RPK) increased by 8,7%, but when adjusting for routes that have been closed down traffic was up 19% in September 2002 compared with 2001. - Scandinavian Airlines passenger load factor increased by 7,9 p.u. to 71,7%. - Scandinavian Airlines passenger load factor on intercontinental routes increased to almost 89%.
Strong passenger load factors, but pressure on yields in Scandinavian Airlines
When comparing September 2002 with 2001 it is important to take into account the situation that existed after the September 11 attacks last year. In the aftermaths, most airlines experienced weak traffic on many routes and in addition U.S. airspace was closed 4 days affecting traffic to/ from the U.S.A.
Since the situation last year, capacity has been reduced significantly on Scandinavian Airlines routes, in particular on the European network. When adjusting for routes that have been closed down (discontinued routes), traffic was up 19% in September 2002 vs 2001. This development has resulted in an increase in passenger load factor of 7,9 p.u. in Scandinavian Airlines vs 2001.
Scandinavian Airlines has increased its market shares in September. Among the group's airlines Braathens showed a strong increase in passenger load factor of 7,8 p.u and Spanair's passenger load factor increased by 6,2 p.u.
Early indications of passenger yields in September show increased pressure on yields for Scandinavian Airlines as a result of campaigns and other market activities.
Yield for August 2002 was down 5% vs August 2001. Currency adjusted the reduction was 4,5%. Accumulated yield from January 2002 - August 2002 was down 0,4% or 2% currency adjusted.
The continued improvements in passenger load factors for all airlines in the SAS Group are still comforting, but the yield development in August and September is weaker than expected. The overall market outlook remains unchanged for the coming months, but the uncertainties have increased as a result of weaker world economies and general market development.
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