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Big Losses for SAS

The airline SAS reported a loss before tax of Skr1.132 million for the first quarter of 2012. This compares with a loss of Skr558 million the same period in 2011.

Analysts had on average expected a loss of 514 million, according to Reuters.
Revenue amounted to 9.591 billion kronor, compared to Skr9.313 million a year earlier.
Prospects for 2012 are not clear, writes CEO Richard Gustafson in the report. The business environment is uncertain, competition is high and fuel prices high, he notes.
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