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SAS takes huge loss in third quarter despite passenger uptick

Benedicte Vagner
August 26th, 2022


This article is more than 2 years old.

The ailing airline has faced a number of stumbling blocks over the summer, including a pilot strike and staff shortages

Photo: Pixabay

SAS has posted its financial results for the third quarter of 2022 … and it’s not great.

The results revealed that over the past three months the airline endured a loss of 1.3 billion kroner.

SAS was hampered by a 15-day pilot strike and thousands of cancelled flights over the summer, which ended up affecting more than 380,000 passengers.

The silver lining is that despite the obstacles, SAS still saw more passengers than expected during the summer quarter.

“Looking back at the third quarter, we continued to see increased demand as travel restrictions were eased and this is yet another quarter where we have noted the highest number of passengers since the pandemic started,” SAS wrote in its report.

READ ALSO: SAS cancels more flights in coming months

Support from the US
SAS is currently receiving support from the US company Apollo Global Management in its fight for survival.

It can take 9-12 twelve months to help reform the company and Apollo Global Management is willing to loan SAS more than five billion kroner to help with the reformation process.

“After the close of the quarter, SAS secured a debtor-in-possession (DIP) financing commitment for USD 700 million from Apollo Global Management. This substantial financing commitment is an important milestone in our transformation and it gives us a strong financial position to support our operations throughout the chapter 11 process,” the airline wrote.


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A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”