newstodate.aero
Feb 4, 2009 (newstodate): Despite tough market conditions in 2008, SAS Cargo managed to report full-year earnings above the levels of 2007.
Traffic revenue fell from 1,722 to 1,506 mio Swedish Crowns, but "other revenue" from cargo GSA activities and cargo handling etc increased from 1,614 to 1,931 mio Swedish Crowns in 2008.
However, lower income from fuel surcharges and, notably, loss of cargo contracts during Q4 forced earnings during Q4 below 2007-levels.
As part of the new strategy for survival, Core SAS, cargo handling, freight forwarding and GSA activities will now be either sold, oursourced or ended, and from 2009 SAS Cargo will focus entirely on selling belly cargo capacity on SAS aircraft.
SAS Cargo earlier suspended its efforts to sell its subsidiary, the cargo handling and terminal company Spirit as no serious buyers were identified.
Traffic revenue fell from 1,722 to 1,506 mio Swedish Crowns, but "other revenue" from cargo GSA activities and cargo handling etc increased from 1,614 to 1,931 mio Swedish Crowns in 2008.
However, lower income from fuel surcharges and, notably, loss of cargo contracts during Q4 forced earnings during Q4 below 2007-levels.
As part of the new strategy for survival, Core SAS, cargo handling, freight forwarding and GSA activities will now be either sold, oursourced or ended, and from 2009 SAS Cargo will focus entirely on selling belly cargo capacity on SAS aircraft.
SAS Cargo earlier suspended its efforts to sell its subsidiary, the cargo handling and terminal company Spirit as no serious buyers were identified.