Financial performance following the coronavirus pandemic
The coronavirus pandemic seriously impacted the financial performance of the Stockholm-based company. However, the first signs of recovery have been seen in SAS' operations since 2022. In the year 2023, the revenue amounted to approximately 42 billion Swedish kronor, a remarkable increase of 32 percent in comparison to the previous year. This figure was also only nine percent lower than the revenue generated during the pre-pandemic year, 2019.Furthermore, the positive trend that the company had through 2023 was also observed in the passenger traffic number. Throughout the year, the Stockholm-based company's attention has been directed towards meeting the rising demand from passengers. As a result, the number of passengers flying with SAS stood at 23 million, the highest figure since the coronavirus pandemic started.
In addition, the reduction in the workforce resulting from the pandemic began to improve in 2022. The number of employees employed by Scandinavian Airlines in the fiscal year 2023 surpassed the 5,216 registered in the previous fiscal year 2022.
SAS’s path to sustainable aviation
At present, reducing greenhouse gas emissions generated by civil aviation operations is the most important topic in the aviation industry. Scandinavian Airlines aims to lead the journey towards a zero-carbon society. The objective of the company is to enhance the aircraft fleet, utilize more sustainable aviation fuel, and improve the efficiency of its flight operations.As of 2023, three million metric tons of CO2 were emitted by Scandinavian Airlines, an increase from the previous year's 2.4 million metric tons, but still below the level recorded in the pre-pandemic years. Scandinavian Airlines generated the highest levels of greenhouse gas emissions when they traveled to or from countries outside Europe. In that particular year, these flights resulted in the emission of approximately 1.34 million tons of carbon dioxide into the atmosphere.
Furthermore, the airline had 134 aircraft in operation, of which 65 percent were Airbus A320 family aircraft. The A320 family is particularly well-known for its engines and aerodynamic enhancements, which contribute significantly to fuel effectiveness. Scandinavian Airlines is scheduled to receive a total of 12 and six Airbus A320neo aircraft in the fiscal years 2024 and 2025, respectively.
