STOCKHOLM, Sweden, May 14, 2002 (PRIMEZONE) -- SAS AB Investor Relations:Investor information on the Internet at http://www.scandinavian.net.
The SAS Group
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SAS Airline to introduce new traffic system with simpler and more streamlined production
On April 17, SAS Airline announced the introduction of a new traffic system designed to improve efficiencies such as aircraft utilization rates. A more robust traffic system is also expected to improve punctuality in a more stable production environment. The change is part of the SAS Group measures to sustain long-term profitability and it will also create a platform for further productivity gains. Fully implemented it is expected to create an effect of approx. MSEK 2,000 on the SAS Group result in 2003-2004.
Annual General Meeting of shareholders The SAS Group Annual General meeting of shareholders was held on April 17, 2002. The Annual General Meeting decided that no dividend would be given to the shareholders for the fiscal year 2001. In addition, the other decisions points at the Annual General Meeting was agreed in accordance with the proposals in the notice to the shareholders.
1st Quarter Results
The SAS Group results for the first Quarter 2002 will be released today at approx 2.30 p.m. CET.
2. The SAS Group traffic development -- highlights
SAS Group -- the consolidation of traffic system has been effective The consolidation of the traffic system that was initiated in the aftermaths of September 11, has resulted in improved passenger load factors and a healthy balance between supply and demand for all airlines in the Group. Overall passenger load factor was up + 1.7 p.u. to 66.1%. Total traffic for the Group (RPK) was down -4.6%
SAS Airline positively affected from Easter holidays SAS Airline's passenger traffic (RPK) increased by 2,6% in April 2002 vs 2001.Passenger load factor increased by 3.4 p.u to a record 69.4% in April 2002 compared with 2001. Business Class traffic was down -0.9%. Business Class was positively affected due to the placement of the Easter holidays (in March 2002 vs in April 2001). When combining the March and April traffic figures and thereby excluding the holidays affecting, Business Class in SAS Airline was down -approx 13% for the two months combined (vs -16% in February) compared with same period in 2001. The full April figures showed Business Class down -0.9% and Economy Class up 3.9%.
The figures showed some improvements from the first two months, but the development in Business Class was still generally weak. The development in Economy Class was also affected by growth on the Asian routes as the new Airbus A 340's now operates on all Asian destinations as well as New York. The negative passenger mix in addition to a large number of price campaigns in the marketplace continues to put yields under significant pressure. In spite of the weak market development it is estimated that SAS Airline continued to gain market shares particularly on Intercontinental routes.
Braathens with new traffic program -- Spanair negatively affected by Easter Braathens also showed improvements in passenger load factors up 2.6 p.u. to 58.1%. Spanair, with more focus on the leisure segment had a negative Easter effect. As a result traffic (RPK) fell by 38.6% passenger and load factor fell by -7.5 p.u.. Adjusted for the discontinued intercontinental operations Spanair's traffic decreased by 17.0%. As from April 2, SAS Airline and Braathens introduced a new traffic program on Norwegian domestic routes. Due to these large capacity reductions and Spanair's ceased intercontinental traffic, the SAS Group overall passenger traffic (RPK) decreased by 4.6% in April 2002 vs. April 2001 and the number of passengers decreased by 4,2%. Group capacity (ASK) decreased by 7.0% and passenger load factor increased by 1.7 p.u to 66.1%.
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