EUROPE & CIS: “Hard competition” dampens SAS results

Scandinavian carrier SAS Cargo’s annual result for 2007 was aff ected by "hard competition in key markets" resulting in a drop in profi ts compared with a year earlier. Turnover for the year was SEK 3,355m (€363m) while profi t came in at SEK 22m (€2.4m). "The air cargo industry has experienced some big changes […]


Scandinavian carrier SAS Cargo’s annual result for 2007 was aff ected by "hard competition in key markets" resulting in a drop in profi ts compared with a year earlier. Turnover for the year was SEK 3,355m (€363m) while profi t came in at SEK 22m (€2.4m).

"The air cargo industry has experienced some big changes in recent years, with consolidation among customers and over capacity in key markets," said Kenneth Marx, president and chief executive offi cer of SAS Cargo Group A/S. "SAS Cargo is going through a transition process in order to adapt to these changes. Th is has aff ected the result for 2007, which is not at a satisfactory level."

SAS Cargo said the air cargo industry was experiencing "some big changes", with consolidation among customers and over-capacity in key markets. SAS Cargo was going through a transition process in order to adapt to those changes, stated Marx, and that had affected the result for 2007 which was "not at a satisfactory level".