SAS Q1 2017/2018. Q1 in Summary: Improved earnings CHANGE VS. Q1 FY17

Size: px
Start display at page:

Download "SAS Q1 2017/2018. Q1 in Summary: Improved earnings CHANGE VS. Q1 FY17"

Transcription

1 SAS 2017/ in Summary: Improved earnings POSITIVES + Passenger revenue up 1% (FX adj.) + Cargo and EB-point sale revenue increased MSEK Efficiency program delivered MSEK Positive currency effects of MSEK Operation from the new London base commenced + Positive cash flow from operating activities + 70% redemption of the preference shares completed NEGATIVES - Lower passenger numbers and load factor - Low punctuality and regularity due to very challenging weather conditions EBT bef. non-recurring items MSEK -373 Capacity, ASK in millions 11, Unit cost 1, SEK PASK 2, SEK CHANGE VS. MSEK % -1% % Note: 1) Excluding jet fuel and currency adjusted; 2) Currency adjusted 2 1

2 Improved earnings due to seasonal adjustments DEPARTURES IN FY16 FY18 FY16 = Index 100 EBT BEFORE NONRECURRING ITEMS MSEK -5% 100 FY FY16 FY18 EBT 1 PAX YIELD ,976 6,513 6, % Note: 1) EBT before non-recurring items; MSEK 2) Nominal; SEK 3 Implementation of efficiency program according to plan EXAMPLES OF SAVING INITIATIVES EFFICIENCY PROGRAM GROSS EARNINGS IMPACT SEK bn Flight operation, charges and fuel, MSEK 80 Cimber divestment, long haul manning reduction, increased crew productivity and fuel efficiencies 1,1 0,4 3,0 Ground handling and technical, MSEK 55 Renegotiated line station contracts, digitalization of ticket office & arrival service Optimization of engine maintenance, improved scheduling and admin reduction 0.7 Commercial and overhead, MSEK 30 Ban of wholesale cards, reduced logistical costs for catering and marketing Renegotiated facility contracts 0,8 0,2 savings CASK, nom. MSEK % FY18 FY19 FY20 Achieved -FY18 Total effect Remaining effect 4 2

3 INTERNAL EXTERNAL Successful launch of SAS Ireland in KEY HIGHLIGHTS AOC approved in December First commercial flight on 20 Dec 2017 now four aircraft in traffic 80,000 passengers transported until mid February flights completed Positive customer response in line with SAS s Scandinavian based production Punctuality in line with the Scandinavian based operation MALAGA BASE UNDERWAY First flight expected during summer Looking ahead, SAS maintains its strategic direction and steers towards a single type fleet MARKET TRENDS AND SAS CONDITIONS Increased leisure travel Increased demand for non-stop routes New Production models SAS ACTIONS Improve core operations Rightsizing Greater seasonal and network adjustments > SEK 3bn efficiency program Focus on broadening revenue base using EuroBonus Strategic wet lease partners complementing SK operation Maintain and improve schedule at regional destinations Legacy costs Complementing production platform Launched SAS Ireland Production platform without legacy Aging fleet and significant financing need Fleet renewal Single type fleet Asset company to enable effective financing 6 3

4 Building blocks to future proof SAS beyond 2020 PRODUCTION OPTIMIZATION OUTCOME Core operations (SK) Regional platforms (External partners) Increased competitiveness Improved efficiency and product offering. Single type fleet (Asset company) European platform (SAS Ireland) Growth and flexibility Greater seasonal adjustments and participate in growing markets. Sustainability A step toward lower emissions for a sustainable future. 7 FINANCIALS 4

5 Breakdown of the income statement Income statement Nov 17-Jan 18 Nov 16-Jan 17 Change vs. LY Currency Total operating revenue 8,978 8, Payroll expenditure -2,268-2, Jet fuel -1,555-1, Government charges Other operating expenditure -3,383-3, Total operating expenses* -8,127-8, EBITDAR before non-recurring items EBITDAR-margin* 9.5% 5.4% +4.1 p.u. Leasing costs, aircraft Depreciation Share of income in affiliated companies EBIT before non-recurring items EBIT-margin* -3.0% -6.6% +3.6 p.u. Financial items EBT before non-recurring items Non-recurring items EBT Note: * Before non-recurring items 9 Breakdown of the income statement rolling 12 months Income statement Feb 17-Jan 18 Feb 16-Jan 17 Change vs. LY Currency Total operating revenue 42,675 40,141 +2, Payroll expenditure -9,001-9, Jet fuel -6,812-6, Government charges -4,213-4, Other operating expenditure -15,330-14, Total operating expenses* -35,356-34, EBITDAR before non-recurring items 7,319 5,225 +2, EBITDAR-margin* 17.1% 13.0% +4.1 p.u. Leasing costs, aircraft -3,143-2, Depreciation -1,453-1, Share of income in affiliated companies EBIT before non-recurring items 2,729 1,094 +1, EBIT-margin* 6.4% 2.7% +3.7 p.u. Financial items EBT before non-recurring items 2, , Non-recurring items EBT 2,149 1,043 +1, Note: * Before non-recurring items 10 5

6 Revenue analysis Total Revenue MSEK MSEK 246 8, , , Total revenue Currency Total revenue, FX adj. Scheduled capacity change* Total load factor* Yield* Other traffic revenue Other operating revenue Total revenue FY18 Note: * Based on average yield in +0.7% -4.5 p.u. +6.8% 11 Operating expense analysis Total Operating Expenses MSEK -8, , ,473 Operating expenses, Currency Operating expenses, FX adj. Fuel ex currency, volume Volume Inflation Efficiency program Other Operating expenses FY

7 SAS meets all its financial targets, rolling 12 months Return on Invested Capital (ROIC) at 14% Improved in line with earnings during Capital base to increase going forward Requires improved earnings to maintain ROIC above target 10% 9% Q2 13% Q3 13% 14% Q4 FY18 12% Adjusted financial Net Debt/EBITDAR at 2.9x Improved 0.2 units during 12 months rolling EBITDAR up SEK 0.9bn Aircraft deliveries to increase the adjusted financial net debt going forward 3.4x 4.0x 3.3x 3.1x 2.9x 3x Q2 Q3 Q4 FY18 Financial preparedness at 38% Stable level in Cash position at SEK 9.3bn 33% 37% 37% 37% 38% 25% Unutilized credit facilities of SEK 2.5bn Financial preparedness to decrease following the redemption of SEK 2.6bn in preference shares in Feb 18 Q2 Q3 Q4 FY18 13 Positive cash flow in in addition, financing spend being reduced IMPROVED CASH FLOW 1 BY MSEK 549 MSEK Driven by earning improvements and larger volumes of pre-booked tickets 184 LOWER FINANCING SPEND; MSEK ~300 Credit rating upgraded following equity private placement in November 2017 Moody s and S&P upgraded SAS s credit rating to B1 and B+ New non-secured bond of MSEK 1,500 issued Replaces an existing bond and reduces interest costs annually by more than MSEK FY12 FY FY14 FY FY16 FY18 Redemption of SEK 2.6bn preference shares in February 2018 completed Reduces dividend payment by MSEK 245 annually Ambition to redeem remaining preference shares using retained earnings Note: 1) Cash flow from operating activities 14 7

8 Debt profile and capex Interest bearing liabilities repayments SEK bn FY18 FY19 FY20 FY21 Unsecured loans Secured loans Aircraft firm order deliveries as at 31 Jan 2018 Maturity profile Financing options for the convertible bond in FY19 of SEK 1.6 bn being considered SEK 0.2bn of secured maturing loans in FY18 relates to pre-delivery payments Investments and aircraft financing SAS to finance last ten A320neo and Airbus A350 Gross investment expected at SEK 6bn Non-aircraft capex of SEK ~0.5bn 7 FY18 7 FY19 Airbus A320neo 5 3 FY20 FY21 Airbus A350 Further aircraft investments considered Final negotiations being held with Airbus and lessors Need to invest in about 50 aircraft from FY19 15 SAS has evolved over the last seven years MAR 2011 JAN 2018 CASK, SEK Revenue/passenger, SEK 1,120 1,120 Pension liabilities, SEK bn FTE 32 14, ,929 Aircraft Interest bearing liabilities, MSEK 13,843 8,234 Interest expenses (quarter), MSEK Passengers (SK), LTM, million

9 Maintained outlook for FY18 - Despite increased jet fuel prices Market environment Aviation industry undergoes significant change Geo-political uncertainty Introduction of aviation taxes Volatile USD and jet fuel prices Main assumptions Slightly less negative earnings than expected in FY18 ASK +1-3% Fuel 580 USD/MT 1) (550 USD/MT) FX rate 8 SEK/USD Gross investments of approximately SEK 6bn The introduction of an aviation tax in Sweden Continued stable macro trend SAS expects to deliver income before tax and nonrecurring items in the interval of SEK billion Note: The outlook is based on no unexpected events occurring 1) Including SAS hedge portfolio. 17 9

10 SAS has undergone a significant transformation during the last five years FY12 REVENUE AND EBT MARGIN (SEK bn) # PAX # EUROBONUS MEMBERS ROUTES SERVED A/C BLOCK HOURS/DAY A/C TYPES # FTEs Pension commit. SEK bn 25m <3m , m >5m , FY12 FY13 FY14 FY15 FY16 6% 5% 4% 3% 2% 1% 0% -1% -2% 37% FINANCIAL PREPAREDNESS 3.1x FINANCIAL NET DEBT/EBITDAR 13% ROIC 19 SAS strategy is to focus on Scandinavia s frequent travelers Typical low cost carrier strategy Strategy of SAS Market Operational platform Multimarket focus, general low yield, especially leisure One type fleet, operate traffic flows that fit fleet Focus on Scandinavia s frequent travelers Fleet designed to fit best network and schedule for customers Growth New destinations, anywhere Improve offer for primary customer base to increase loyalty 20 10

11 SAS is implementing efficiency measures of SEK 3bn with full effect in FY20 FOCUS AREA Flight ops, wet lease, charges & fuel EXAMPLES OF INITIATIVES Increased use of cabin crew resource pool Increase flexibility in flight deck scheduling Optimize long-haul manning and address demographic cost Gross earnings impact, SEK bn 0.4 Ground handling & Technical maintenance Admin & IT Increase work task flexibility in Ground Increased ambition on external spend Full roll out of lean within Tech Minimize a/c phase out maintenance cost Increased use of lean processes Improve IT contracts and license mgmt Transform IT (e.g. cloud migration, infrastructure consolidation) Product, sales and distribution Differentiate product offering Reduce distribution and wholesale card costs Reduce logistic costs for onboard catering Reduce back-office and call centre expenditure 0.8 FY18 FY19 FY20 Total effect 21 1 FOCUS AREA Status of the efficiency program, January 31, 2018 Flight ops, wet lease, charges & fuel EXAMPLES OF IMPLEMENTED INITIATIVES Increase use of resource pool Increase flexibility in flight deck scheduling Align manning on long-haul and address demographic cost ACHIEVED SEK ~0.39bn EST. POTENTIAL SEK ~1.2bn Ground handling & Technical maintenance Increase work task flexibility and mobility Increased ambition on external spend Full role out of lean within Tech Minimize aircraft phase out maintenance cost SEK ~0.33bn SEK ~0.9bn Admin & IT Increased use of lean processes and system improvements Improve IT contracts and license management Transform IT (e.g. cloud migration, infrastructure) SEK ~0.1bn SEK ~0.4bn Product, sales and distribution Differentiate product offering to increase individualization Reduce distribution and wholesale card costs Reduce logistic costs for onboard catering Reduce back-office and call centre expenditure SEK ~0.12bn SEK ~0.5bn 22 11

12 23 SAS fleet January 2018 Aircraft in traffic under SK traffic license Age Owned Leased Total Firm order Airbus A330/A340/A Airbus A321/A320/A Boeing 737 NG Total Lease order Aircraft in service with a different license than SAS Age Owned Wet leased Total Wet- lease order Bombardier CRJ Bombardier CRJ ATR Airbus A320neo Total Total aircraft in traffic Age Owned Wet leased Total Firm order Wet- lease order Total

13 Productivity development

14 Yield and PASK development vs. last year 27 Quarterly yield development 28 14

15 Long term yield and passenger load development Load Factor Yield (SEK) 80% 70% 60% January 2005 Yield (12 months rolling) January 2006 January 2007 January 2008 January 2009 January 2010 January 2011 January 2012 Load Factor (12 months rolling) January 2013 January 2014 January 2015 January 2016 January 2017 January ,35 1,30 1,25 1,20 1,15 1,10 1,05 1,00 0,95 0,90 29 Capacity and FTE Capacity ASK total, millions % SAS FTEs % Nov-Jan 2017 Nov-Jan 2018 Nov-Jan 2017 Nov-Jan

16 Quarterly unit cost development 31 Breakdown of unit cost, Nov 2017 Jan 2018 SAS, SEK, currency adjusted 32 16

17 Summary of key drivers SAS Q2 2016/17 Q3 2016/17 Q4 2016/ / % +6.9% 0.0% -5.7% +3.1 p.u. -0.6p.u. -2.8p.u p.u. -7.5% -0.5% +5.5% +6.8% -3.3% -1.3% +1.7% 0.0% -7.4% -5.9% +4.5% -0.9% Breakdown of payroll expenses Payroll expenses significantly reduced New pension and remuneration agreements in November 2012 Outsourcing significant parts of operation and administration Increased productivity in all areas Opportunities going forward Digitalization and automation of operation on the ground and administration and where possible also for flying personal Payroll expenses excl. restructuring costs (MSEK) -24% Pilots Crew Tech Ground Admin 11,502 2,979 (26%) 2,087 (18%) FY12 8,793 2,435 (28%) 1,199 (10%) 1,613 (18%) 3,168 (28%) 925 (11%) 2,606 (30%) 2,069 (18%) 1,214 (14%) Avg. number of FTEs 13,649 Pilots 1,340 (10%) Crew 2,599 (19%) Tech 1,500 (11%) Ground Admin 5,621 (41%) 2,589 (19%) FY12-24% 10,324 1,345 (13%) 2,635 (26%) 1,080 (10%) 3,978 (39%) 1,286 (12%) 34 17

18 35 SAS geographical traffic development in FY18 Total scheduled traffic RPK -5.7% ASK +0.7% Passengers -5.5% PASK 0.0% Domestic RPK -4.2% ASK -0.5% Intercontinental routes RPK -10.0% ASK -1.2% Europe/Intrascand RPK -1.9% ASK +3.0% 36 18

19 jan-12 mar-12 may-12 jul-12 sep-12 nov-12 jan-13 mar-13 may-13 jul-13 jul sep 13-nov jan-14 mar-14 may jul 14-sep Nov-14 Jan-15 Mar-15 May-15 July-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 SAS passenger development Scheduled passenger, 12 months rolling (Million) Market seat capacity Supply and demand in Scandinavia, vs LY FY16 FY18 7% 7% 7% 6% 3% 5% 3% 4% 6% 4% Seats Passengers 5% 5% 4% 4% 3% 4% 3% 4% 2% 0% Q2 Q3 Q4 Q2 Q3 Q4 Q2 Q3 38 Source: Innovata Schedule data, June

20 In recent years, growth has come from the leisure segment driven by increased LCC capacity Capacity Scandinavia- Europe (Seats in millions) 71 CAGR Purpose of travel Scandinavia (Passengers in millions; CAGR %) CAGR LCCs % Business % Majors % Leisure % SAS % Source: Innovata schedule data; airport statistics from Swedavia, Avinor and Copenhagen Airport (sub-set of total market) 39 ASK outlook for 2017/2018 ASK outlook for November 2017 October

21 41 Financial targets To reach this, SAS pursues three strategic priorities to meet trends and industry developments, ensure competitiveness and create the prerequisites for long-term sustainable profitability. 21

22 Overview of credit facilities January Cash seasonality Seasonality of SAS cash flow from operating activities, MSEK* Cash flow from operating activities strongest in Q2 and Q4 Seasonality has increased due to For the first time, positive cash flow from operating activities in FY Q2 Q3 Q4 * Average between 2010 and

23 Amortization profile Q2-Q4 FY18 FY19 FY20 FY21 FY22 >FY23 Unsecured loans Secured loans 45 Gearing ratios 450% 350% Fin Net Debt / Equity Equity / Total Assets Fin. Net Debt + 7*Op lease / Equity 250% 150% 50% -50% -150% dec-98 dec-02 dec-03 dec-04 dec 06-dec 07-dec 01-dec 09-dec 10-dec dec-11 Oct-12 Oct-13 Oct-14 Oct-15 Oct-16 Oct

24 SAS Group Financial Net November- January 47 Development and Break Down Financial Net Debt 48 24

25 Development of financial net debt as reported on a quarterly basis Equity / Assets Ratio as report on a quarterly basis 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%

26 Financial Net Debt / Equity as reported on a quarterly basis 2,3 2,0 1,8 1,5 1,3 1,0 0,8 0,5 0,3 0,0-0,3-0, Fleet & productivity Unit revenue (yield & PASK) & Unit cost Traffic & capacity outlook Financial update Currency & Fuel 52 26

27 Breakdown of currency effects SAS Group Total revenues & costs currency effects Nov 2017-Jan 2018 vs LY Total revenues & costs Forward cover costs Working capital Financial items Total currency effects USD DKK NOK EUR Asian currencies All other Total Difference Difference Difference Changes in currency exchange rates affected the result by MSEK 205 in Nov 2017-Jan 2018 vs Nov 2016-Jan 2017 Currency effects MSEK on SAS Group 2017/2018 vs 2016/2017 Negative impact on revenue due to the weaker NOK and USD. Positive impact on other operating expenditure due to the weaker NOK and USD. Total revenue Total costs Forward cover costs & working capital Income before depreciation Financial items Income before tax Nov 2017-Jan

28 SAS currency distribution - Nov 2016 Oct 2017 Revenue Other 6% EUR 11% GBP 3% SEK 30% Expenses EUR Other GBP 9% 1% 2% SEK 22% USD 8% 36% USD 15% DKK 14% 27% NOK DKK 15% NOK 55 Jet fuel costs decreased MSEK 24 in Fuel cost Q4 MSEK -1, , ,555 Currency Curr. adj. Volume Price Hedging & time value Other FY : :

29 Jet fuel and currencies Jet fuel Policy to hedge 40-80% of expected fuel consumption for the next 12 months and up to 50% for the following six months Hedge position as at January % of expected jet fuel consumption hedged next 12 months Mixture of call options and swaps Currency Policy to hedge 40-80% of expected currency deficit/surplus for the next 12 months Jet fuel cost sensitivity FY18, SEK bn* Average spot price 7.0 SEK/USD 8.0 SEK/USD 9.0 SEK/USD USD 500/MT USD 600/MT USD 700/MT Currency hedges* 57% of USD hedged next twelve months 70% of NOK hedged next twelve months * Based on hedge position as at 31 January 2018 Max jet fuel price Q2 FY18 Q3 FY18 Q4 FY18 FY19 USD /MT 80% USD /MT - 73% 39%

SAS Q1 2016/

SAS Q1 2016/ SAS Q1 2016/2017 08.03.2017 Weak Q1 as expected new structural actions underway Q1 in summary Positives + Currency adjusted passenger revenue up 5% + Strong development of ancillary revenues + Passengers

More information

SAS Q4 2016/2017. Q4 in Summary: Earnings in line with November outlook Negative currency effects of MSEK 273 CHANGE VS.

SAS Q4 2016/2017. Q4 in Summary: Earnings in line with November outlook Negative currency effects of MSEK 273 CHANGE VS. SAS Q4 2016/2017 12.12.2017 Q4 in Summary: Earnings in line with November outlook Positives + Passenger revenue up 5.4% (FX adj.) + Yield up 5.5% + Efficiency program delivered MSEK 240 + 3-year collective

More information

SAS Q2 2017/2018 TELECONFERENCE

SAS Q2 2017/2018 TELECONFERENCE SAS Q2 2017/2018 TELECONFERENCE 30 May 2018 Earnings as expected despite negative currency effect POSITIVES + Total revenue up MSEK 73 vs. LY + Currency adjusted yield up 0.6% vs. LY + EB-point sale revenue

More information

SAS Q3 2016/

SAS Q3 2016/ SAS Q3 2016/2017 05.09.2017 A strong summer performance drives result improvements Q3 IN SUMMARY Positives + Currency adjusted passenger revenue up 6.4% + Passengers up by ~300,000 + Ancillary and cargo

More information

SAS Q3 2017/ August 2018

SAS Q3 2017/ August 2018 SAS Q3 2017/2018 31 August 2018 Strong earnings in peak season POSITIVES Record number of passengers Total revenue up MSEK 936 vs. LY Currency adjusted yield up 1.1% vs. LY EB point sale up 27% vs. LY

More information

SAS AB Q December 2018

SAS AB Q December 2018 SAS AB Q4 2018 4 December 2018 Q4 financial highlights Q4 POSITIVES Q4-18 CHANGE VS. Q4-17 Record number of passengers Total revenue up SEK 1bn vs. LY Yield (nominal) up 5.1% vs. LY RASK (nominal) up 7.0%

More information

SAS Q3 2016/2017. A strong summer performance drives result improvements CHANGE VS. Q3 FY16

SAS Q3 2016/2017. A strong summer performance drives result improvements CHANGE VS. Q3 FY16 SAS Q3 2016/2017 05.09.2017 A strong summer performance drives result improvements Q3 IN SUMMARY Positives + Currency adjusted passenger revenue up 6.4% + Passengers up by ~300,000 + Ancillary and cargo

More information

SAS Group Q2 2012/13. Q2 Restructuring programme moving KPIs in the right direction

SAS Group Q2 2012/13. Q2 Restructuring programme moving KPIs in the right direction SAS Group Q2 2012/13 1 Q2 Restructuring programme moving KPIs in the right direction Operating revenues +1.6%* Yield improvement of +2.7%* Forceful implementation of 4XNG plan: Unit cost down by 10.7%

More information

SAS Q3 2015/2016. Q3 development largely in accordance with our expectations. Q3 update. Change vs. LY

SAS Q3 2015/2016. Q3 development largely in accordance with our expectations. Q3 update. Change vs. LY SAS Q3 2015/2016 08.09.2016 Q3 development largely in accordance with our expectations Q3 update Most of Q3 developed as expected FX adjusted revenues up by MSEK 428 226,000 more passengers in Q3 vs. LY

More information

Strengthened SAS delivers positive result in Q3

Strengthened SAS delivers positive result in Q3 SAS Group Q3 2012/13 1 Strengthened SAS delivers positive result in Q3 Passenger revenues up 5.3% (FX adjusted) 32 new routes introduced Capacity up 7.7% Traffic up 5.6% Yield down 0.6% Restructuring status

More information

SAS Group Q Teleconference

SAS Group Q Teleconference SAS Group Q4 2012 Teleconference December 12, 2012 1 Break-even result in 2012 despite 1.6 bn SEK higher fuel cost 23 MSEK EBT (before non-recurring items) despite 1.6 bn SEK higher fuel cost Positive

More information

Q1 2018/

Q1 2018/ Q1 2018/2019 27.02.2019 Highlights Q1/19 CHANGE VS. Q1-18 Financial drivers Total revenue up 6% with broadly unchanged capacity Slight increase in passengers and load factor HIGHLIGHTS Q1/19 Improved unit

More information

SAS Q1 2013/14. Tough 1 st Quarter 2013/2014 as expected THE NEWEUROBONUS. Q1 EBT MSEK -146 Positive effects from pension plans MSEK 1,044

SAS Q1 2013/14. Tough 1 st Quarter 2013/2014 as expected THE NEWEUROBONUS. Q1 EBT MSEK -146 Positive effects from pension plans MSEK 1,044 SAS Q1 2013/14 1 1 Tough 1 st Quarter 2013/2014 as expected Q1 EBT MSEK -146 Positive effects from pension plans MSEK 1,044 Yield down 5.6% in Q1 THE NEWEUROBONUS Launch in Spring 2014 Welcome onboard!

More information

SAS Group Q Teleconference August 8, 2012

SAS Group Q Teleconference August 8, 2012 SAS Group Q2 2012 Teleconference August 8, 2012 1 Q2 4Excellence delivers tangible results Unit cost down 4% EBT (before non rec.) MSEK 137 EBT MSEK 371 Positive cash flow from operating activities MSEK

More information

SAS Group Presentation Carnegie, May 22, 2012 Sture Stölen, Head of IR

SAS Group Presentation Carnegie, May 22, 2012 Sture Stölen, Head of IR SAS Group Presentation Carnegie, May 22, 2012 Sture Stölen, Head of IR 1 This is the SAS Group 128 destinations 27,2 million passengers 28 new routes to be launched 2012 1,085 daily flights Revenues 2011,

More information

SAS takes forceful action in a challenging market

SAS takes forceful action in a challenging market SAS Q2 2013/14 1 1 SAS takes forceful action in a challenging market Q2 EBT MSEK -1,078 Disappointing result in a challenging market most European carriers struggle During the last year, capacity has outgrown

More information

SAS Group 1 st interim report 2011

SAS Group 1 st interim report 2011 SAS Group 1 st interim report 2011 Media/analyst presentation May 10, 2011 Q1 Improved earnings driven by Core SAS cost reductions Continued strong macro development in Scandinavia Additional capacity

More information

Continued good growth in most SAS Group markets first Quarter SAS Group EBT trend on the right track. Improved Result 1 st Quarter 2007

Continued good growth in most SAS Group markets first Quarter SAS Group EBT trend on the right track. Improved Result 1 st Quarter 2007 Continued good growth in most SAS Group markets first Quarter 7 Continued favorable economic cycle Good growth on all markets Strong market growth, particularly in Finland and Norway SAS Group 1 st Quarter

More information

SAS AB:s interim report April 29 th 2008

SAS AB:s interim report April 29 th 2008 SAS AB:s interim report April 29 th 28 A very challenging 1 st Quarter The airline industry under pressure Record high fuel prices Increased competition Yield pressure Increased overcapacity Profit warnings

More information

SAS Group 1 st interim report 2011

SAS Group 1 st interim report 2011 SAS Group 1 st interim report 011 Media/analyst presentation May 10, 011 Q1 Improved earnings driven by Core SAS cost reductions Continued strong macro development in Scandinavia Additional capacity is

More information

SAS AB Analyst meeting

SAS AB Analyst meeting SAS AB Analyst meeting London, August 9, 2001 2 2nd Quarter a tough Quarter The Marketplace Continued weak world economy Weaker Swedish economy SAS Weaker traffic growth and reduced passenger load factors

More information

Analysts and Investors conference call. Q results. 15 May 2013

Analysts and Investors conference call. Q results. 15 May 2013 Analysts and Investors conference call Q1 2013 results 15 May 2013 Management summary Key messages of Q1 2013 +6% +9% +3.3%p. Q1 2013 operational KPIs are in line with 109.7 116.2 6.5 7.1 82.3 85.6 expectations,

More information

SAS Group Asia Tour Financial Hearing Presentation May 14, 2012

SAS Group Asia Tour Financial Hearing Presentation May 14, 2012 SAS Group Asia Tour Financial Hearing Presentation May 14, 2012 1 This is the SAS Group 128 destinations 27,2 million passengers 28 new routes to be launched 2012 1,085 daily flights Revenues 2011, MSEK

More information

2012 Result. Mika Vehviläinen CEO

2012 Result. Mika Vehviläinen CEO 2012 Result Mika Vehviläinen CEO 1 Agenda Market environment in Q4 Business performance and strategy execution Outlook Financials 2 Market Environment According to IATA, Global air travel continues to

More information

Second Quarter 2004 Teleconference

Second Quarter 2004 Teleconference Second quarter marginally positive despite to strong yield pressure and record high jet fuel prices MSEK, April-June 2004 Change Revenues 15 143 15 300-157 EBITDAR 1 493 1 608-115 Lease, depreciation &

More information

SAS AB:s Press Conference. Augusti 14 th 2008

SAS AB:s Press Conference. Augusti 14 th 2008 SAS AB:s Press Conference Augusti 14 th 2008 1 Weak second quarter due to unprecedented challenging market conditions Combination of record high fuel prices and economic slowdown probably largest industry

More information

Analyst Meeting Full Year 2006

Analyst Meeting Full Year 2006 Good growth in most markets in 26 Good GDP and traffic growth in most markets Strongest traffic growth in Spain, Norway and the Baltics Strong growth also in Finland Sweden: GDP: 4,3% Passengers: +2,5%

More information

Norwegian Air Shuttle ASA

Norwegian Air Shuttle ASA Norwegian Air Shuttle ASA Q1 2018 Presentation 26 April 2018 Highlights Q1 2018 Successfully completed private placement of NOK 1.3 billion Added two 737-800s and six 787-9s to operations Launched interline

More information

Norwegian Air Shuttle ASA

Norwegian Air Shuttle ASA Norwegian Air Shuttle ASA Q4 2017 Presentation 15 February 2018 Highlights Q4 2017 Added one 737-800 and two 787-9s to operations Financed the first aircraft with a combination of UKEF and JOLCO Agreed

More information

Finnair Group Interim Report 1 January 30 September 2008

Finnair Group Interim Report 1 January 30 September 2008 Finnair Group Interim Report 1 January 30 September 2008 1 31/10/2008 Presentation name / Author Airline industry at a historical turning point Expensive fuel price in the beginning of 2008 has dramatical

More information

FIRST QUARTER 2017 RESULTS. 4 May 2017

FIRST QUARTER 2017 RESULTS. 4 May 2017 FIRST QUARTER 2017 RESULTS 4 May 2017 A resilient start of the year, traffic up 4.2% 20.9 million passengers carried, up 5.2%, traffic (RPK) up 4.2%, capacity (ASK) up 3.3% and load factor up 0.7pts Confirmation

More information

The SAS Group five business areas as from Q SAS Group statement of income

The SAS Group five business areas as from Q SAS Group statement of income Weak full year result but according to plan Teleconference Fiscal year st Quarter weak according to plan nd Quarter passenger load factors and yields better than expected 3 rd and 4 th Quarter pressure

More information

Third Quarter 2004 Analyst presentation November, 2004

Third Quarter 2004 Analyst presentation November, 2004 Third quarter marginally positive despite large overcapacity Stabilized yield drop, but large overcapacity put pressure on load factors Group traffic revenues down 2% in Q3 Volume 56 Price -7 Third Quarter

More information

Finnair Q Result

Finnair Q Result 17 August 2016 CEO Pekka Vauramo CFO Pekka Vähähyyppä Finnair Q2 2016 Result 1 Highlights of the second quarter The seventh consecutive quarter of profit improvement Fukuoka & Guangzhou route openings

More information

Finnair Q Result

Finnair Q Result Finnair Q1 2015 Result 7 May 2015 CEO Pekka Vauramo, Interim CFO Mika Stirkkinen 1 Turbulent market environment The weakness of the Finnish economy continued to be reflected in the demand in the first

More information

26 October 2017 Icelandair Group Interim Report NET PROFIT USD 101 MILLION IN THIRD QUARTER

26 October 2017 Icelandair Group Interim Report NET PROFIT USD 101 MILLION IN THIRD QUARTER NET PROFIT USD 101 MILLION IN THIRD QUARTER Total income in Q3 up by 10% between years, to USD 536.0 million Passenger revenue higher than expected EBITDA unchanged year on year, at USD 161.1 million Passenger

More information

First Half 2013 Results. 16 mai 2013

First Half 2013 Results. 16 mai 2013 First Half 2013 Results 16 mai 2013 26 July 2013 Results Increasing effects of Transform 2015 Highlights of the First Half A difficult global economic environment Transform 2015 plan roll-out on track

More information

VERY GOOD RESULTS IN OUR MOST IMPORTANT QUARTER

VERY GOOD RESULTS IN OUR MOST IMPORTANT QUARTER VERY GOOD RESULTS IN OUR MOST IMPORTANT QUARTER Q3 EBITDA USD 161.8 million, as compared to USD 155.6 million in the corresponding quarter last year 19% increase in passenger numbers on international flights

More information

Commercial success improves earnings

Commercial success improves earnings SAS Interim Report November July 215 SAS Interim Report November July 215 Commercial success improves earnings May 215 July 215 Income before tax: MSEK 1,31 (756) Income before tax and nonrecurring items:

More information

Analyst and Investor Conference Call Q Ulrik Svensson, CFO and Member of the Executive Board

Analyst and Investor Conference Call Q Ulrik Svensson, CFO and Member of the Executive Board Analyst and Investor Conference Call Q2 2017 Ulrik Svensson, CFO and Member of the Executive Board Frankfurt, 2 August 2017 Disclaimer The information herein is based on publicly available information.

More information

Q Fast growth continued, Comparable operating result at record high levels Pekka Vauramo

Q Fast growth continued, Comparable operating result at record high levels Pekka Vauramo 2018 Fast growth continued, Comparable operating result at record high levels 17.7.2018 Pekka Vauramo 2 A good - Comparable operating result increased to new seasonal high Revenue Comparable operating

More information

UBS 14 th Global Emerging Markets Conference. New York, November 2016

UBS 14 th Global Emerging Markets Conference. New York, November 2016 UBS 14 th Global Emerging Markets Conference New York, November 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Air Berlin PLC AGM 06 June 2013 London

Air Berlin PLC AGM 06 June 2013 London Air Berlin PLC AGM 06 June 2013 London airberlin a strong European carrier Market position as of 31 December 2012 No. 2 in core market: Germany / Austria / Switzerland No. 7 in Europe with 33.3 m guests

More information

Finnair Q Result

Finnair Q Result Finnair Q2 2015 Result 14 August 2015 CEO Pekka Vauramo, Interim CFO Mika Stirkkinen 1 Market environment shows signs of improvement There were signs of a recovery in the demand for consumer and business

More information

THAI AIRWAYS INTERNATIONAL PCL

THAI AIRWAYS INTERNATIONAL PCL THAI AIRWAYS INTERNATIONAL PCL 2Q2017 analysts briefing 16-Aug-2017 1 DISCLAIMER The information contained herein is intended to represent the Company s operating and financial position at a given point

More information

Third Quarter Presentation of Year end Report 2005 Stockholm and London, February SAS Group positive result 2005

Third Quarter Presentation of Year end Report 2005 Stockholm and London, February SAS Group positive result 2005 Third Quarter 25 positive result 25 Presentation of Year end Report 25 Stockholm and London, February 9-1 1 EBT bef nonrecurring items MSEK 114, an improvement of MSEK 1 815 Record number of passengers

More information

Finnair 2015 kolmannen vuosineljänneksen tulos

Finnair 2015 kolmannen vuosineljänneksen tulos Finnair 215 kolmannen vuosineljänneksen tulos Q3 Result 215 3 October 215 3.1.215 Toimitusjohtaja Pekka Vauramo Talousjohtaja Pekka Vähähyyppä 1 Highlights of the quarter Excellent Q3 result: Record result

More information

Third Quarter 2014 Results. 29 October 2014

Third Quarter 2014 Results. 29 October 2014 Third Quarter 2014 Results 29 October 2014 Highlights of the Third Quarter Operating environment Air France-KLM Economic environment remains weak Further currency volatility affecting revenues and results

More information

Santander 22 nd Annual Latin American Conference. Cancun, January 2018

Santander 22 nd Annual Latin American Conference. Cancun, January 2018 Santander 22 nd Annual Latin American Conference Cancun, January 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Presentation of 1 st Interim Report 2006 Stockholm and London, May 4-5

Presentation of 1 st Interim Report 2006 Stockholm and London, May 4-5 Result affected by pilot conflict and underlying yield pressure EBT bef nonrecurring items MSEK -1 319 in line with 25 Positive Easter Effect MSEK 1 Cost for conflicts of MSEK 25 Still underlying price

More information

Results 2Q17. August 9, 2017

Results 2Q17. August 9, 2017 Results 2Q17 August 9, 2017 2Q17 Highlights Indicators 2Q17 Var. x 2Q16 ASK (BN) 10.4-3.0% Traffic (000) 7,261-1.3% RPK (BN) 8.1 +0.5% Load Factor 77.9% +2.7 p.p. Yield (R$ cents) 23.2 +4.8% Pax Revenue

More information

IAG results presentation. Quarter One th May 2018

IAG results presentation. Quarter One th May 2018 IAG results presentation Quarter One 2018 4 th May 2018 Highlights Willie Walsh, Chief Executive Officer Highlights Another strong quarter performance with an operating profit of 280m (5.6% margin, +2.3pts)

More information

Second Quarter nd Quarter result improved by MSEK 526. Improved load and stable yields. Positive result and improved operating performance

Second Quarter nd Quarter result improved by MSEK 526. Improved load and stable yields. Positive result and improved operating performance Positive result and improved operating performance Second Quarter 25 1 st Half result improved by MSEK 82 Improvement for all business areas and group airlines Operating result almost tripled in 2 nd Quarter

More information

SAS Group Interim Report

SAS Group Interim Report SAS Group Interim Report January-June 2004 Marginally positive earnings for second quarter of 2004 Operating revenue for the first half of the year amounted to MSEK 27,710 (29,010), a decrease of 4.5%.

More information

Press conference Full Year 2006

Press conference Full Year 2006 Good growth in most markets in 2006 Good GDP and traffic growth in most markets Strongest traffic growth in Spain, Norway and the Baltics Strong growth also in Finland Sweden: GDP: 4,3% Passengers: +2,5%

More information

Q Finnair s growth continued Pekka Vähähyyppä

Q Finnair s growth continued Pekka Vähähyyppä 2018 Finnair s growth continued 25.10.2018 Pekka Vähähyyppä 1 We continued to develop our services and network New route to Los Angeles in 2019, two daily flights to Hong Kong New digital service for exploring

More information

Full Year 2009 Results

Full Year 2009 Results Full Year 2009 Results 1 Antonio Vázquez Chairman & Chief Executive Officer 2 Highlights 2009 Strong decrease in revenues: weak demand and yield deterioration. High competition and drop of business traffic.

More information

Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations. cebupacificair.com

Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations. cebupacificair.com Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations cebupacificair.com Disclaimer The information provided in this presentation is provided only for your reference. Such information has

More information

PRESS RELEASE Financial Results. Rising passenger traffic at 12.5m Exceeding 1bn in consolidated revenue

PRESS RELEASE Financial Results. Rising passenger traffic at 12.5m Exceeding 1bn in consolidated revenue PRESS RELEASE 2016 Financial Results Rising passenger traffic at 12.5m Exceeding 1bn in consolidated revenue Kifissia, 23 March 2017 AEGEAN reports full year 2016 results with consolidated revenue at 1,020m,

More information

DANSK LUFTFARTS ÅRSMØDE RICKARD GUSTAFSON, PRESIDENT & CEO SAS

DANSK LUFTFARTS ÅRSMØDE RICKARD GUSTAFSON, PRESIDENT & CEO SAS DANSK LUFTFARTS ÅRSMØDE RICKARD GUSTAFSON, PRESIDENT & CEO SAS 23.05.2018 1 SAS AT A GLANCE 2 THE FUTURE OF SCANDIAVIAN AVIATION 2 SAS is an important part of Scandinavian infrastructure A DAY IN THE LIFE

More information

Thank you for participating in the financial results for fiscal 2014.

Thank you for participating in the financial results for fiscal 2014. Thank you for participating in the financial results for fiscal 2014. ANA HOLDINGS strongly believes that safety is the most important principle of our air transportation business. The expansion of slots

More information

Finnair Group Interim Report 1 January 30 June 2008

Finnair Group Interim Report 1 January 30 June 2008 Finnair Group Interim Report 1 January 30 June 2008 1 08/08/2008 Presentation name / Author Airline industry at a historical turning point Fuel price has a stranglehold on the business Average ticket prices

More information

GOOD SECOND-QUARTER RESULTS. GOOD OUTLOOK FOR THE YEAR DESPITE NEGATIVE IMPACT OF EXTERNAL FACTORS ON EBITDA GUIDANCE.

GOOD SECOND-QUARTER RESULTS. GOOD OUTLOOK FOR THE YEAR DESPITE NEGATIVE IMPACT OF EXTERNAL FACTORS ON EBITDA GUIDANCE. GOOD SECOND-QUARTER RESULTS. GOOD OUTLOOK FOR THE YEAR DESPITE NEGATIVE IMPACT OF EXTERNAL FACTORS ON EBITDA GUIDANCE. EBITDA in Q2 USD 52.4 million, as compared to USD 50.3 million last year 18% increase

More information

AIR NEW ZEALAND ANNUAL RESULTS ANNUAL RESULTS

AIR NEW ZEALAND ANNUAL RESULTS ANNUAL RESULTS AIR NEW ZEALAND ANNUAL RESULTS 2008 1 HIGHLIGHTS Record operating revenue, up 9% Normalised earnings* $197m Net cash position of $1.3bn Launched direct service to Vancouver and Beijing Award winning product

More information

Fourth Quarter and Full Year 2009 Results Presentation January 27, 2010

Fourth Quarter and Full Year 2009 Results Presentation January 27, 2010 Fourth Quarter and Full Year 2009 Results Presentation January 27, 2010 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Interim results. 11 May 2010

Interim results. 11 May 2010 Interim results 11 May 2010 Introduction Andy Harrison Chief Executive Officer Strong performance despite disruption Improvement in revenue, margins and cash Continued network improvement has driven better

More information

Air China Limited Annual Results. March Under IFRS

Air China Limited Annual Results. March Under IFRS Air China Limited 21 Annual Results Under IFRS March 211 Agenda Part 1 Highlights Part 2 Business Overview Part 3 Financial Overview Part 4 Outlook 2 Part 1 Highlights Steady Economic Growth; Asia Pacific

More information

SIA ANALYST/MEDIA BRIEFING Q2 and 1H FY17/18 Results 8 November 2017

SIA ANALYST/MEDIA BRIEFING Q2 and 1H FY17/18 Results 8 November 2017 SIA ANALYST/MEDIA BRIEFING Q2 and 1H FY17/18 Results 8 November 2017 THE PARENT AIRLINE Q2 AND 1H FY17/18 RESULTS THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE Q2 % 1H % FY17/18 Change FY17/18 Change

More information

2007/08 Full Year Results Investor Briefing

2007/08 Full Year Results Investor Briefing 2007/08 Full Year Results Investor Briefing Highlights of Result Profit before tax up 46% to $1,408 million Up 36% on the reported result Margin improvement $3 billion of Sustainable Future Benefits achieved

More information

Management Presentation. November 2018

Management Presentation. November 2018 Management Presentation November 2018 Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and affiliates (collectively

More information

Financial Results 3 rd Quarter MAR/2016 (FY2015)

Financial Results 3 rd Quarter MAR/2016 (FY2015) Financial Results MAR/2016 (FY2015) January 29 th, 2016 CONTENTS P.1 P.2 P.3 P.4~ Overview of FY MAR/16 Results Operating Revenue Operating Profit 1,030 1,020 1,010 +1.0Bn 1,022.3 1,023.4 (+0.1%) 180 160

More information

THIRD QUARTER 2016 RESULTS. 3 November 2016

THIRD QUARTER 2016 RESULTS. 3 November 2016 THIRD QUARTER 2016 RESULTS 3 November 2016 Highlights of the Third Quarter 2016 Environment Operations Financial highlights Strong increase in airline industry capacity Terrorist attacks in Europe resulting

More information

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2018(FY2017)

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2018(FY2017) JAPAN AIRLINES Co., Ltd. Financial Results Mar/2018(FY2017) July 31, 2017 Today s Topics P.1 P.2 P.3 P.4 P.6 P.15 Overview of Financial Results for (FY2017) 1 st quarter resulted in an increase in both

More information

JAPAN AIRLINES Financial Results 2 nd Quarter Mar / 2014 (FY2013)

JAPAN AIRLINES Financial Results 2 nd Quarter Mar / 2014 (FY2013) JAPAN AIRLINES Financial Results 2 nd Quarter Mar / 2014 (FY2013) Yoshiharu Ueki, President Norikazu Saito, Managing Executive Officer 31 October, 2013 Contents P.2 P.3 P.4 P.6 1 Overview of 2 nd Quarter

More information

Analyst and Investor Conference Call Q Frankfurt, 25 October 2017

Analyst and Investor Conference Call Q Frankfurt, 25 October 2017 Analyst and Investor Conference Call Q3 2017 Frankfurt, 25 October 2017 Disclaimer The information herein is based on publicly available information. It has been prepared by the Company solely for use

More information

Fourth Quarter and Full Year 2011 Results Presentation. February 1, 2012

Fourth Quarter and Full Year 2011 Results Presentation. February 1, 2012 Fourth Quarter and Full Year 2011 Results Presentation February 1, 2012 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2017(FY2016) July 29, 2016

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2017(FY2016) July 29, 2016 JAPAN AIRLINES Co., Ltd. Financial Results Mar/2017(FY2016) July 29, 2016 Today s Topics P.1 P.2 P.13 From the first quarter of this fiscal year, figures for Revenue Passengers Carried, ASK, RPK and Load

More information

FIRST HALF 2016 RESULTS. 27 July 2016

FIRST HALF 2016 RESULTS. 27 July 2016 FIRST HALF 2016 RESULTS 27 July 2016 Highlights of the Second Quarter 2016 Environment Operations Financial highlights High level of geopolitical uncertainties, including Brexit Terrorist attacks in Europe

More information

Financial Results 1 st Quarter Mar/2016 (FY2015) 30 July, 2015

Financial Results 1 st Quarter Mar/2016 (FY2015) 30 July, 2015 Financial Results Mar/2016 (FY2015) 30 July, 2015 Today s Topics P.2 P.3 P.15 1 Overview of FY Mar/2016 Financial Results Operating Revenue Operating Profit 320 307.0 +4.9Bn (+1.6%) 312.0 50 +17.6Bn (+94.6%)

More information

Finnair Group Interim Report 1 January 31 March 2008

Finnair Group Interim Report 1 January 31 March 2008 Finnair Group Interim Report 1 January 31 March 2008 1 29/04/2008 Presentation name / Author Outlook for the industry less positive Growth of demand declining due to uncertainty of global economy Growth

More information

THIRD QUARTER 2017 RESULTS 3 rd of November 2017

THIRD QUARTER 2017 RESULTS 3 rd of November 2017 THIRD QUARTER 2017 RESULTS 3 rd of November 2017 2017 THIRD QUARTER 2017: STRONG OPERATING RESULT DRIVEN BY SOLID TRAFFIC AND INCREASE IN UNIT REVENUE Robust Group traffic statistics +5.1% +4.1% Strong

More information

Management Presentation. March 2016

Management Presentation. March 2016 Management Presentation March 2016 Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and affiliates (collectively

More information

Finnair Q result. 25 October 2017 CEO Pekka Vauramo

Finnair Q result. 25 October 2017 CEO Pekka Vauramo Finnair Q3 2017 result 25 October 2017 CEO Pekka Vauramo 1 All-time best quarter Revenue up by 15% to record level of 735 M Aircraft flew full, passenger load factor was 87% Asian routes and San Francisco

More information

Cebu Air, Inc. 2Q2014 Results of Operation

Cebu Air, Inc. 2Q2014 Results of Operation Cebu Air, Inc. 2Q2014 Results of Operation 1 Disclaimer This information provided in this presentation is provided only for your reference. Such information has not been independently verified and, as

More information

Agenda. Introduction Christine Ourmières-Widener. Financial Review Ian Milne. Performance Update & Outlook Christine Ourmières-Widener

Agenda. Introduction Christine Ourmières-Widener. Financial Review Ian Milne. Performance Update & Outlook Christine Ourmières-Widener 1 Agenda Introduction Christine Ourmières-Widener Financial Review Ian Milne Performance Update & Outlook Christine Ourmières-Widener 2 Strategy of regional connectivity is working Important to UK economy,

More information

Annual Results Air New Zealand

Annual Results Air New Zealand Annual Results 2011 Air New Zealand Highlights Normalised earnings* $75m Net cash position of $860m Operating cash flow down 5% Gearingat467% at 46.7% Final dividend 2.5 cents per share (unimputed) New

More information

Finnair Group Annual Report 1 January 31 December 2006

Finnair Group Annual Report 1 January 31 December 2006 Finnair Group Annual Report 1 January 31 December 2006 2006: A year for restructuring Scheduled Passenger Traffic transforming to meet Asian traffic demands Labour negotiations to cut 670 jobs 80 million

More information

Full Year 2017 RESULTS 16 th of February 2018

Full Year 2017 RESULTS 16 th of February 2018 Full Year 2017 RESULTS 16 th of February 2018 2017 FULL YEAR 2017 MAIN ACHIEVEMENTS Robust traffic statistics Strong Full Year results +5.6% +2.0% 42% +101% 1,049 1,488 347 696 FY 2016 FY 2017 Passengers

More information

PRESS RELEASE. First Half 2017 Financial Results Higher Load Factors and traffic lead to a significant rebound in second quarter profitability

PRESS RELEASE. First Half 2017 Financial Results Higher Load Factors and traffic lead to a significant rebound in second quarter profitability PRESS RELEASE First Half 2017 Financial Results Higher Load Factors and traffic lead to a significant rebound in second quarter profitability Kifissia, 12 September 2017 AEGEAN announces first half 2017

More information

Passenger: 17.2 Million (+3.9% yoy) OTP: 85.8% SLF: 73.3% Subsidiaries Operating Revenues US$415.2 Million Cargo Carried 219.4K ton (+10.

Passenger: 17.2 Million (+3.9% yoy) OTP: 85.8% SLF: 73.3% Subsidiaries Operating Revenues US$415.2 Million Cargo Carried 219.4K ton (+10. Value* 14.78 3.36 4.97 Volume** 32.85 9.59 13.43 Last Price 423 342 348 Market Cap.*** 8.74 8.85 9.01 Note: * Average Value in Billion Rupiah ** Average Volume in Million *** Market Capitalization in Trillion

More information

Cebu Air, Inc. Annual Stockholders Briefing. 24 June cebupacificair.com

Cebu Air, Inc. Annual Stockholders Briefing. 24 June cebupacificair.com Cebu Air, Inc. Annual Stockholders Briefing 24 June 2015 cebupacificair.com Business Updates Passengers (M) Operating Statistics 2014: Passenger traffic grew 17.5% to 16.9M. Seat capacity grew 14.8% to

More information

Singapore Airlines Group Analyst/Media Briefing HALF YEAR FY RESULTS 5 NOVEMBER 2012 THE PARENT AIRLINE 1H FY2012/13 RESULTS

Singapore Airlines Group Analyst/Media Briefing HALF YEAR FY RESULTS 5 NOVEMBER 2012 THE PARENT AIRLINE 1H FY2012/13 RESULTS Singapore Airlines Group Analyst/Media Briefing HALF YEAR FY2012-13 13 RESULTS 5 NOVEMBER 2012 THE PARENT AIRLINE 1H FY2012/13 RESULTS THE PARENT AIRLINE COMPANY RESULTS 2Q & 1H FY12/13 2Q/12 $million

More information

USD thousand Q Q Change % Change 12M 2015

USD thousand Q Q Change % Change 12M 2015 EBITDA POSITIVE IN FIRST-QUARTER EBITDA positive by USD 1.1 million, as compared to a negative outcome of USD 2.3 million last year Positive impact of low fuel prices on performance 21% increase in passenger

More information

Jakarta, 3 May Analyst Meeting. Q1/ Corporate Performance

Jakarta, 3 May Analyst Meeting. Q1/ Corporate Performance Jakarta, 3 May 2018 Analyst Meeting Q1/2018 - Corporate Performance Shares Information 6,750 GIAA IJ Equity - Last Price (R1) JCI Index - Last Price (L1) 294 6,188.987 600 6,500 6,189 6,250 6,000 550 500

More information

Vueling completes its restructuring plan and turns a 13.4m operating profit in Q2

Vueling completes its restructuring plan and turns a 13.4m operating profit in Q2 Vueling completes its restructuring plan and turns a 13.4m operating profit in Highlights Vueling turned a 13.4m operating profit (excluding restructuring costs) during the second quarter in the year,

More information

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2017(FY2016) July 29, 2016

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2017(FY2016) July 29, 2016 JAPAN AIRLINES Co., Ltd. Financial Results Mar/2017(FY2016) July 29, 2016 Today s Topics P.1 P.2 P.13 From the first quarter of this fiscal year, figures for Revenue Passengers Carried, ASK, RPK and Load

More information

STAYING TRUE. BofAML Global Transportation Conference. May

STAYING TRUE. BofAML Global Transportation Conference. May STAYING TRUE BofAML Global Transportation Conference May 19 2011 FORWARD-LOOKING STATEMENT Certain information in this presentation and statements made during this presentation, including any question

More information

Jet Airways (India) Ltd. Presentation on Annual Results FY06. May 2006

Jet Airways (India) Ltd. Presentation on Annual Results FY06. May 2006 Jet Airways (India) Ltd. Presentation on Annual Results FY06 May 2006 1 Agenda 1. Performance Highlights 2. Sahara Acquisition Update 3. Outlook 2 Performance Highlights 3 Domestic landscape capacity growth

More information

Azul Increases Net Income by R$152 Million in 1Q18 Operating margin was a record 12.5% despite the 21% increase in oil year over year

Azul Increases Net Income by R$152 Million in 1Q18 Operating margin was a record 12.5% despite the 21% increase in oil year over year Azul Increases Net Income by R$152 Million in 1Q18 Operating margin was a record 12.5% despite the 21% increase in oil year over year São Paulo, May 10, Azul S.A., Azul, (B3:AZUL4, NYSE:AZUL) the largest

More information

JET AIRWAYS (I) LTD. Presentation on Financial Results Q July 24, 2009

JET AIRWAYS (I) LTD. Presentation on Financial Results Q July 24, 2009 JET AIRWAYS (I) LTD Presentation on Financial Results Q1 2010 July 24, 2009 1 1 1 Agenda Domestic operating environment Jet Airways performance highlights JetLite performance highlights Outlook 2 2 2 Domestic

More information