SAS Scandinavian Airlines has slightly revised its expected financial targets for FY24 and the post-Chapter 11 period. Revenues will likely be higher than anticipated, but the carrier will miss out on its target to reach positive EBT already this financial year.
SAS shared the revised numbers in an update on January 23 as part of its amended Chapter 11 plan. The airline and its solicitors filed hundreds of pages with amendments and additions to the plan with the US Bankruptcy Court of the Southern District of New York, where SAS filed for Chapter 11 in July 2022.
The Disclosure Statement includes financial projections for FY24 (November 2023-October 2024) for what is called the Initial Projections Period. SAS says it expects revenues to exceed SEK 48 billion. This is in line with what it said last September in its Q3 FY23 report when CEO Anko van der Werff stated that revenues would return to pre-Covid levels in FY24. SAS reported SEK 46.7 billion in revenues in 2019. Revenues should continue to grow to SEK 54.1 billion in FY25, to SEK 59.4 billion in FY26, and to SEK 64.1 billion in FY27, the Disclosure Statement says.
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