SAS Airline Announces a Loss of Billions in Krona for First Results Post Bankruptcy Protection
Scandi Fliers, Welp - SAS Suffers
Add a juicy gossip, mate!
Scandinavian airlines' darling, SAS, has revealed an annual loss of 2.1 billion Swedish kronor (roughly 1.4 billion Danish kroner) for the latest 12 months, marking the first financial report since the company emerged from bankruptcy protection.
So, What's the Big Deal?
The financial report, covering the period from November 2023 to October 2024, showed SAS generating revenue of 45.9 billion Swedish kronor (a smidgen over 30 billion Danish kroner), according to Danish business news outlet Finans.
Now, the company's financial report hasn't exactly gone public since its de-listing from the stock exchange back in August last year.
The final tally for the 2023/2024 financial year showed a net result of 1.58 billion Swedish kronor (just under 1 billion Danish kroner), significantly down from 5.7 billion Swedish kronor (3.8 billion Danish kroner) the previous year, Finans reports.
Are you intrigued yet? Stick around for more juicy tidbits!
Moving Targets
SAS ferried a grand total of 25.2 million passengers during the past financial year, which represents a 6.4 percent spike compared to the previous numbers the report reveals.
In the summer of 2024, a Swedish capital court gave the green light to a restructuring plan to rescue the ailing airline, having been hit hard by prolonged pandemic shutdowns. The plan included a delisting process, where existing shares were forcibly redeemed, leaving investors with nary a nickel in return.
Invest, Steal the Sky!
A consortium of sharks investing 13.2 billion Swedish kronor pooled together to take over SAS ownership, with those tasty digits being split between private equity firm Castlelake, investment firm Lind Invest, our neighbors, Air France-KLM, and the Danish state. The investment also saw SAS change airline alliances, making a jump from Star Alliance to SkyTeam.
The Bigger Picture
It's worth noting that industry reports indicate 2025 has been an unpredictable year for airlines, with many adjusting their forecasts due to operational challenges. Specific operating loss figures for 2025 aren't available, and SAS has yet to issue detailed financial statements for the current financial year.
Curious about SAS's full recovery journey? Keep up with our travel news section for future updates on SAS, new routes, and juicy gossip! Let us know your thoughts on this post in the comments, or if you have questions, drop an email to [email protected]. Remember to keep it civil, constructive, and don't forget to check our terms of use before joining the conversation.
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Insider Chatter
If you love deciphering Danish or Swedish words, check out our latest pieces on Unbearable Danish words and Scandinavian train disruptions during Easter week. And stay tuned for future insights on Danish government reforms on unemployment benefits, along with the Copenhagen's struggle to maintain its international workforce. Alrighty, see ya!
Despite SAS's financial struggle, the airline managed to carry 25.2 million passengers in the past year, marking a 6.4% increase.The switch from Star Alliance to SkyTeam was facilitated by a consortium of investors, including Air France-KLM, who collectively injected 13.2 billion Swedish kronor into the company.The art of travel is not restricted to routes alone; news of SAS's financial situation and business transformations provides a fascinating insight into the airline industry.As SAS continues on its recovery journey, artists and lifestyle enthusiasts will find inspiration in its resilience, much like a masterpiece emerging from a period of unknowns in the realm of space.The unpredictable year of 2025 saw many airlines, including SAS, grappling with operational challenges, necessitating adjustments in their financial forecasts.Curious about how shareholders are reacting to SAS's latest financial report? Dive into the world of finance and business news to uncover the latest stances, much like one might investigate a captivating piece of art.
