SAS posted a first-quarter loss of 2.49 billion Swedish crowns ($239 million) on Friday. The airline warned that they expect higher interest rates and costs to affect the industry this year.
The airline, which sought Chapter 11 US bankruptcy protection last year, reaffirmed that it intends to complete that process in the second half of 2023.
The loss for the November-January quarter was slightly smaller than the loss of 2.60 billion Swedish crowns before taxes a year earlier.
Part-owned by the governments of Sweden and Denmark, SAS predicted a full-year 2023 revenue of around 40 billion Swedish crowns.
The company states that it expects to return to positive earnings before tax in the financial year of 2024.
Source: zawya.com
