STOCKHOLM, Sweden, March 8, 2002 (PRIMEZONE) -- The SAS Group
1. Investor news
Spanair transaction approved The EU Commission has by a decision of March 5, 2002 approved SAS increased shareholding in Spanair S.A. from 49% to 74%. The decision clears the transaction, which now may be closed and completed.
SAS Airline awarded Grand Travel Award On March 4, 2002 SAS Airline was awarded Grand Travel Award for best domestic airline in Sweden and best airline in Europe for Business travelers. 500 travel agency employees in Sweden vote the result.
2. The SAS Group traffic development SAS Airline passenger traffic
(RPK) decreased by 0,5% and passenger load factor increased by
0,6 p.u to a record 62,1% in February 2002 compared with 2001.
The inclusion of Spanair and Braathens in the SAS Group from
January 2002 added 31% more passengers on a group level in 2002
compared with 2001. Due to capacity reductions in these airlines
SAS Group overall passenger traffic (RPK) decreased by 5,4% in
February 2002 vs. February 2001 and the number of passengers
decreased by 7,3%. Group capacity (ASK) decreased by 8,4% and
passenger load factor increased by 2 p.u to 60,6%
In spite of record February passenger load factor for SAS Airline no recovery was noted in the important Business Class (-16,0%). Positive growth in Economy Class (+7,0%) offset the development and total traffic decreased by only 0,5%. The development in Economy Class was also affected by growth on the Asian routes as the new Airbus A 340's are now introduced on all Asian destinations. The negative passenger mix in addition to price campaigns in the marketplace continued to put yields under pressure. Spanair showed improved passenger load factor (+4,2 p.u.) as capacity is reduced on European and Intercontinental routes. As from early April 2002 Spanair's Intercontinental routes will be closed down completely. Braathens major capacity cuts of 20% was implemented as from January 7, 2002 and this resulted in sharply improved passenger load factor (+5,9 p.u).
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www.waymaker.net/bitonline/2002/03/08/20020308BIT00280/wkr0001.doc The Full Report www.waymaker.net/bitonline/2002/03/08/20020308BIT00280/wkr0002.pdf The Full Report