Analyst forecasts strong profits for Norwegian and fresh, big losses for SAS

 

The SAS airline paid a heavy price for the pilot strike this summer. The corporation is anticipated to report a loss of slightly more than NOK 1.65 billion for the prior quarter.

SAS will present its financial results for the months of May to July on Friday. Sydbank analysts forecast a loss of SEK 1.8 billion, which would be a worse loss than the one in the previous quarter (SEK 1.6 billion).

"The pilot strike, which cost SAS a lot of money, is what determines everything. Currently, it entirely overshadows the fact that aviation traffic has recovered to pre-corona levels, according to Jacob Pedersen, equities analysis manager at Sydbank.

In July, usually the busiest month for the firm, SAS had to cancel thousands of flights. Many of the rival airlines, notably Norwegian, which will release its quarterly results on Thursday, benefited from the SAS strike.

According to Bloomberg, Norwegian would report a profit of over SEK 2 billion during that time.