Summary Box: Scandinavian airline group SAS blames volcanic ash cloud for 2nd-quarter loss

Summary Box: SAS blames ash cloud for 2Q loss

THE RESULTS: Scandinavian airline group SAS AB posted a smaller second-quarter loss and said it would have turned a profit if not for the effects of the Icelandic volcano’s ash cloud on its business.

BOTTOM LINE: SAS lost 502 million kronor ($68 million) in the April-June quarter, compared with a loss of 1.05 billion kronor a year earlier. Revenue fell to 9.98 billion kronor ($1.36 billion) from 12.2 billion kronor as the ash cloud paralyzed European air travel.

WHAT’S NEXT: SAS remains focused on cost cuts. The airline has shed thousands of jobs and sold subsidiary airlines to streamline operations and focus on the Nordic market. However, it plans to reintroduce one long-haul aircraft to boost departures to Asia and the U.S., and will increase flights between major Scandinavian cities due to recovering demand.