Scandinavian Airlines is one of the industry’s most beaten and bruised carriers, commonly called simply SAS. The airline is undergoing intense restructuring to sustain operations for the long term. However, without any adjustments to the business, there was a significant risk they’d cease operations sooner rather than later.
SAS has now reported losing around USD 250 million for the first quarter of the fiscal year 2023. However, while reporting such losses, they expect to exit bankruptcy protection by the second half of this year.
SAS will emerge as a much sleeker airline in terms of fleet and operations as it has had to make necessary changes to its business for survival. Moreover, if all goes according to plan and their forecasts are correct, they believe they’ll return to positive earnings by 2024.
Per Cirium data across the SAS network, 109 aircraft are in service, with 18 in storage. The most significant fleet type is the A320, with 70 units, followed by the CRJ900 and the 737NG.
Nordic carriers continue to make headlines for all the wrong reasons. It continues to be a challenge to perform positively in the region. At the same time, companies can experience highs in the summer, and demand drop-offs during the winter provide a difficult climate. Now it is essential for airlines based in the region to explore alternative means to earn money when they can’t fly full aircraft or are forced to remove routes.
Flyr filed for bankruptcy after entering the industry a couple of years ago. This example further proves how unforgiving it can be alongside other recently failed ventures.