{"id":134141,"date":"2022-11-30T20:30:00","date_gmt":"2022-11-30T20:30:00","guid":{"rendered":"https:\/?p=134141"},"modified":"2022-11-30T23:19:17","modified_gmt":"2022-11-30T23:19:17","slug":"scandinavian-airlines-lost-646-million-in-its-last-fiscal-year","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2022\/11\/scandinavian-airlines-lost-646-million-in-its-last-fiscal-year.html","title":{"rendered":"Scandinavian Airlines lost 646 million in its last fiscal year, up 8%."},"content":{"rendered":"\n<p><strong>Scandinavian Airlines Systems (SAS) <\/strong>on Wednesday reported a net loss of 7.048 billion Swedish kronor (646 million euros) in its latest fiscal year (November-October), up 8% year-on-year.<\/p>\n\n\n\n<p>The balance sheet was marked by factors such as high fuel prices, operational disruptions that have affected the aviation industry and the cost of the pilots&#8217; strike last July, which amounted to about 1.4 billion (132 million euros).<\/p>\n\n\n\n<p><strong><em>\u2192 <a href=\"https:\/en\/2022\/11\/ryanair-in-talks-to-expand-into-egypt-and-libya.html\">Ryanair in talks to expand into Egypt and Libya.<\/a><\/em><\/strong><\/p>\n\n\n\n<p>Net operating profit (ebit) recorded a negative value of 3,332 million (305 million euros), 48 % less than a year earlier.<\/p>\n\n\n\n<p>Turnover amounted to 31,824 million (2,915 million euros), up 128 %.<\/p>\n\n\n\n<p>In the fourth quarter (August-October), the net loss was 1,238 million (113 million euros), up 66 %.<\/p>\n\n\n\n<p>EBIT was negative 92 million (&#8216;8 million), an 81 % improvement.<\/p>\n\n\n\n<p>Turnover amounted to SEK 10,651 million (EUR 976 million), up 85 %.<\/p>\n\n\n\n<p>In February, SAS presented a plan to reduce annual costs by SEK 7.5 billion (EUR 704 million) in order to clean up its accounts and improve its liquidity.<\/p>\n\n\n\n<p><strong><em>\u2192 <a href=\"https:\/en\/2022\/11\/iberia-group-increases-capacity-in-italy-this-winter.html\">Iberia Group increases capacity in Italy this winter.<\/a><\/em><\/strong><\/p>\n\n\n\n<p>The Scandinavian airline, controlled by the Danish and Swedish states (with just under 22% of shares each), also wants to convert 20 billion kroner (\u20ac1.9 billion) in debt and promissory notes into equity, in addition to raising at least 9.5 billion (\u20ac903 million) in new equity.<\/p>\n\n\n\n<p>The Danish state has committed to increase its stake and forgive debt, while the Swedish state only agrees to convert debt into equity.<\/p>\n\n\n\n<p>SAS has filed for Chapter 11 bankruptcy in the United States, a bankruptcy filing that will allow it to reorganize, and has closed a deal with the U.S. fund Apollo in the form of a DIP (debtor-in-possession) financing of 700 million dollars (702 million euros).<\/p>\n\n\n\n<p>The Nordic airline highlighted in its balance sheet that the savings plan continues to develop positively, although for the next fiscal year it does not yet expect profits, reported EFE.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"related-topics\">Related Topics<\/h2>\n\n\n\n\t\t\t<div class=\"wp-block-uagb-post-grid uagb-post-grid  uagb-post__image-position-top uagb-post__image-enabled uagb-block-d52f00cc     uagb-post__items uagb-post__columns-2 is-grid uagb-post__columns-tablet-2 uagb-post__columns-mobile-1 uagb-post__equal-height\" data-total=\"465\" style=\"\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/jetblue-rules-out-chapter-11-bankruptcy-filing-despite-rising-fuel-costs.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\" class='uagb-image-ratio-inherit'><img decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/06\/Jetblue-Airbus-A321.webp\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/06\/Jetblue-Airbus-A321.webp 800w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/06\/Jetblue-Airbus-A321-300x150.webp 300w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/06\/Jetblue-Airbus-A321-768x384.webp 768w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2025\/06\/Jetblue-Airbus-A321-380x190.webp 380w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/jetblue-rules-out-chapter-11-bankruptcy-filing-despite-rising-fuel-costs.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">JetBlue Rules Out Chapter 11 Bankruptcy Filing Despite Rising Fuel Costs<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"uagb-post__text uagb-post__cta wp-block-button\">\n\t\t\t\t<a class=\"wp-block-button__link uagb-text-link\" style=\"\" href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/jetblue-rules-out-chapter-11-bankruptcy-filing-despite-rising-fuel-costs.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Read More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/british-airways-expands-network-with-launch-of-new-routes-to-st-louis-and-guernsey.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\" class='uagb-image-ratio-inherit'><img decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/04\/British-Airways-vuelo-a-St.-Louis.webp\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/04\/British-Airways-vuelo-a-St.-Louis.webp 800w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/04\/British-Airways-vuelo-a-St.-Louis-300x150.webp 300w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/04\/British-Airways-vuelo-a-St.-Louis-768x384.webp 768w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2026\/04\/British-Airways-vuelo-a-St.-Louis-380x190.webp 380w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/british-airways-expands-network-with-launch-of-new-routes-to-st-louis-and-guernsey.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">British Airways Expands Network with Launch of New Routes to St. Louis and Guernsey<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"uagb-post__text uagb-post__cta wp-block-button\">\n\t\t\t\t<a class=\"wp-block-button__link uagb-text-link\" style=\"\" href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/british-airways-expands-network-with-launch-of-new-routes-to-st-louis-and-guernsey.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Read More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/american-airlines-resumes-service-to-venezuela-ticket-sales-begin-for-miami-caracas-route.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\" class='uagb-image-ratio-inherit'><img decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/American-Eagle-E175.jpg\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/American-Eagle-E175.jpg 800w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/American-Eagle-E175-300x150.jpg 300w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/American-Eagle-E175-768x384.jpg 768w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2021\/05\/American-Eagle-E175-380x190.jpg 380w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/american-airlines-resumes-service-to-venezuela-ticket-sales-begin-for-miami-caracas-route.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">American Airlines Resumes Service to Venezuela: Ticket Sales Begin for Miami-Caracas Route<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"uagb-post__text uagb-post__cta wp-block-button\">\n\t\t\t\t<a class=\"wp-block-button__link uagb-text-link\" style=\"\" href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/american-airlines-resumes-service-to-venezuela-ticket-sales-begin-for-miami-caracas-route.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Read More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/spirit-airlines-seeks-financial-aid-from-u-s-government-amid-fuel-price-impact.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\" class='uagb-image-ratio-inherit'><img decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/08\/Spirit-Airlines-Airbus-A320.jpg\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/08\/Spirit-Airlines-Airbus-A320.jpg 800w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/08\/Spirit-Airlines-Airbus-A320-300x150.jpg 300w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/08\/Spirit-Airlines-Airbus-A320-768x384.jpg 768w, https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/08\/Spirit-Airlines-Airbus-A320-380x190.jpg 380w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/spirit-airlines-seeks-financial-aid-from-u-s-government-amid-fuel-price-impact.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Spirit Airlines Seeks Financial Aid from U.S. Government Amid Fuel Price Impact<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"uagb-post__text uagb-post__cta wp-block-button\">\n\t\t\t\t<a class=\"wp-block-button__link uagb-text-link\" style=\"\" href=\"https:\/\/aviacionaldia.com\/en\/2026\/04\/spirit-airlines-seeks-financial-aid-from-u-s-government-amid-fuel-price-impact.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Read More<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t","protected":false},"excerpt":{"rendered":"Scandinavian Airlines Systems (SAS) on Wednesday reported a net loss of 7.048 billion Swedish kronor (646 million euros)&hellip;\n","protected":false},"author":4316,"featured_media":128795,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[1],"tags":[230,269,504],"class_list":{"0":"post-134141","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-airlines","8":"tag-airline","9":"tag-europe","10":"tag-sas-2"},"uagb_featured_image_src":{"full":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",800,400,false],"thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS-150x150.jpg",150,150,true],"medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS-300x150.jpg",300,150,true],"medium_large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS-768x384.jpg",768,384,true],"large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",800,400,false],"1536x1536":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",800,400,false],"2048x2048":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",800,400,false],"pk-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",80,40,false],"pk-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",300,150,false],"csco-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS-80x80.jpg",80,80,true],"csco-intermediate":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS-200x140.jpg",200,140,true],"csco-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS-380x220.jpg",380,220,true],"csco-thumbnail-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS-300x180.jpg",300,180,true],"csco-thumbnail-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS-380x190.jpg",380,190,true],"csco-medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",800,400,false],"csco-medium-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS-560x336.jpg",560,336,true],"csco-medium-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",800,400,false],"csco-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",800,400,false],"csco-large-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",800,400,false],"csco-extra-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2022\/07\/SAS.jpg",800,400,false]},"uagb_author_info":{"display_name":"Redacci\u00f3n - Aviaci\u00f3n al D\u00eda","author_link":"https:\/\/aviacionaldia.com\/en\/author\/aad"},"uagb_comment_info":0,"uagb_excerpt":"Scandinavian Airlines Systems (SAS) on Wednesday reported a net loss of 7.048 billion Swedish kronor (646 million euros)&hellip;","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/134141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/users\/4316"}],"replies":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/comments?post=134141"}],"version-history":[{"count":1,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/134141\/revisions"}],"predecessor-version":[{"id":134142,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/posts\/134141\/revisions\/134142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media\/128795"}],"wp:attachment":[{"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/media?parent=134141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/categories?post=134141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aviacionaldia.com\/en\/wp-json\/wp\/v2\/tags?post=134141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}