SAS’ scheduled capacity fell with nearly 95% compared to last year as a result of the ongoing COVID-19 pandemic. During April, only a limited network in Norway and Sweden was maintained.
“We continue to face challenging times that are radically impacting our business. Even though no one can foresee exactly how passenger demand will evolve in the coming months and years, it is clear that it will take a much longer time than previously anticipated. In our view, it will take until 2022 before demand starts to reach pre-COVID-19 levels.
“The current situation forces us to take all possible measures to reduce costs and preserve cash to be able to emerge from this crisis as a sustainable, profitable and vital part of the Scandinavian infrastructure. Given the time it will take to ramp up production, we have unfortunately had to initiate processes to reduce the size of our future workforce by up to 5,000 full-time positions.
“As part of our ongoing work to safeguard our future, I’m grateful and pleased that we now have secured the SEK 3.3Bn revolving credit facility guaranteed by the states of Sweden and Denmark. This additional liquidity will, alongside our initiated cost reduction measures, give us the time needed to explore further opportunities and financial support to safeguard our business,” says Rickard Gustafson, CEO SAS.
| SAS scheduled traffic | Apr20 | Change1 | Nov19- Apr20 | Change1 |
| ASK (Mill.) | 203 | -94.5% | 16 665 | -23.9% |
| RPK (Mill.) | 54 | -98.0% | 10 763 | -28.8% |
| Passenger load factor | 26.6% | -47.9 p.p. | 64.6% | -4.5 p.p. |
| No. of passengers (000) | 94 | -95.6% | 9,243 | -26.8% |
| Geographical development, schedule | Apr20 vs. Apr19 | Nov19- Apr20 vs. Nov18-Mar19 | ||
| RPK | ASK | RPK | ASK | |
| Intercontinental | -99.9% | -99.4% | -32.5% | -26.4% |
| Europe/Intrascandinavia | -99.4% | -98.2% | -28.1% | -25.0% |
| Domestic | -89.3% | -73.2% | -22.5% | -16.2% |
| SAS charter traffic | Apr20 | Change1 | Nov19- Apr20 | Change1 |
| ASK (Mill.) | 30 | -78.6% | 848 | -17.3% |
| RPK (Mill.) | 9 | -93.0% | 739 | -20.7% |
| Load factor | 28.4% | -57.8 p.p. | 87.2% | -3.7 p.p. |
| No. of passengers (000) | 1 | -96.7% | 242 | -19.6% |
| SAS total traffic (scheduled and charter) | Apr20 | Change1 | Nov19- Apr20 | Change1 |
| ASK (Mill.) | 233 | -93.9% | 17 513 | -23.6% |
| RPK (Mill.) | 62 | -97.8% | 11 503 | -28.3% |
| Load factor | 26.8% | -48.1 p.p. | 65.7% | -4.3 p.p. |
| No. of passengers (000) | 95 | -95.7% | 9,485 | -26.6% |
1 Change compared to the same period last year. p.p. = percentage points
| Preliminary yield and PASK | Apr20 | Nominal change | FX adjusted change |
| Yield, SEK | 1.64 | +66.5% | +66.4% |
| PASK, SEK | 0.44 | -40.6% | -40.6% |
| Apr20 | |||
| Punctuality (arrival 15 min) | 97.2% | ||
| Regularity | 96.1% | ||
| Change in total CO2 emissions, rolling 12 months | -12.8% | ||
| Change in CO2 emissions per available seat kilometre | -3.2% | ||
| Carbon offsetting of passenger related emissions | 24% |
Definitions:
RPK – Revenue passenger kilometres
ASK – Available seat kilometres
Load factor – RPK/ASK
Yield – Passenger revenues/RPK (scheduled)
PASK – Passenger revenues/ASK (scheduled)
Change in CO2 emissions per available seat kilometres – SAS passenger related carbon emissions divided with total available seat kilometres (incl. non-revenue and EuroBonus), rolling 12 months
Carbon offsetting of passenger related emissions – Share of SAS passenger related carbon emissions compensated by SAS (EuroBonus members, youth tickets and SAS’ staff travel)
From fiscal year 2020 we report change in CO2 emissions in total and per Available Seat Kilometers (ASK) to align with our overall goal to reduce our total CO2 emissions by 25% by 2030, compared to 2005.
May 8, 2020 11:00
This post was published on 10 May 2020 00:04
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