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Published on : Thursday, November 7, 2013
Intercontinental capacity was increased 4.1% due to the new route to San Francisco and additional frequencies on existing routes. The intercontinental traffic increased 2.9. On European/Intrascandinavian routes, capacity increased 4% as more leisure European routes were operated than last year. The demand did not absorb the added capacity. On domestic routes, traffic was down 0.2%. Adjusted for the closure of Finnish domestic routes, the domestic traffic increased 0.8%.
Market trends and yield development
Overall, the growth in the market has decreased since July with weakening demand and yield combined with intensified competition and over capacity on certain routes. Demand is strongest on intercontinental routes and relatively stable on routes within Scandinavia, while weaker on European routes.
Currency adjusted yield (Scandinavian Airlines) in September 2013 was down 3.9% and RASK was down 7.4% versus previous year, somewhat weaker than expected. In October 2013, the change in yield and RASK vs. last year is also expected to be negative. The scheduled capacity increase for the financial year 2013/14 is expected to be up approximately 3-4%.
Widerøe sold – update on final capital loss
On 30 September 2013, the SAS Group completed the sale of Widerøe. Consequently, the SAS Group does not report Widerøe’s traffic development from October 2013.
The final capital gains result regarding the sale of Widerøe including related aircraft has now been determined and will result in an additional capital gains loss in the 4th quarter of MSEK 98.