COPENHAGEN, Denmark (AP) Scandinavian airline group SAS AB says its third-quarter net profit rose to 844 million kronor ($127.7 million) from 534 million kronor a year earlier as a result of cost cuts, adding it was on track to make a profit for its full year.
Revenue in the May-July period slightly fell to 11.59 billion kronor ($1.75 billion) from 11.64 billion.
Facing stiff competition from budget airlines and high expenses, the lossmaking carrier last year embarked on a wide restructuring plan and announced 800 job cuts aimed at saving 3 billion kronor annually.
CEO Rickard Gustafson said Wednesday SAS now had made "substantial progress" to improve its financial position.
