STOCKHOLM, Sweden, Nov. 11, 2002 (PRIMEZONE) -- The SAS Group (Other OTC:SASDF) October traffic development -- highlights:
- The SAS Group transported a total of 3.0 million passengers in October 2002 vs 2.1 million in 2001, an increase of 43%.
- Overall group passenger load factor increased by 9.0 p.u to 66.5%.
- Scandinavian Airlines traffic (RPK) increased by 12.6% in October 2002 compared with 2001.
- Scandinavian Airlines passenger load factor increased by 10.5 p.u. to 69.2%
-.Scandinavian Airlines passenger load factor on intercontinental routes increased by 17.3 p.u. to almost 87%.
Strong passenger load factors, but continued pressure on yields in Scandinavian Airlines When comparing October 2002 with 2001 it is important to take into account the weak comparable figures in the aftermath of the September 11 attacks last year. Since the situation last year, capacity has been reduced significantly on Scandinavian Airlines routes, in particular on the European network.
Among the group's airlines Braathens showed a strong increase in passenger load factor of 9.5 p.u and Spanair's passenger load factor increased by 1.6 p.u.
Early indications of passenger yields in October show increased pressure on yields for Scandinavian Airlines as a result of negative mix, campaigns and other market activities. It must be noted that the Business Class traffic (RPK) for the European routes of Scandinavian Airlines was 16,5% lower than last year's weak figures. (After the introduction of Scandinavian Direct the split between Business Class and Economy Class no longer exist on total figures) Yield (unit revenues) for September 2002 was down 5.8% vs September 2001. Currency adjusted the reduction was 4.4%.
Accumulated yield from January 2002 - September 2002 was down 1.0% or 2.3% currency adjusted. The overall yield development is affected by more capacity on intercontinental routes with lower yields.
The continued improvements in passenger load factors for all airlines in the SAS Group are continuing according to set out plan, but the yield development in August, September and October is weaker than expected. The overall market outlook remains more negative for the coming months as a result of economic slowdown in Scandinavia and weaker world economies and general market development.
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