February 26, 2020 / 7:22 AM / a month ago

Airline SAS' Q1 loss widens, keeps 2020 outlook

STOCKHOLM, Feb 26 (Reuters) - Scandinavian airline SAS on Wednesday reported a bigger pretax loss for its fiscal first quarter than a year earlier but kept its profitability forecast for the full year despite the coronavirus outbreak.

“As long as the COVID-19 outbreak is contained in scope and the suspension of flights is isolated to the winter season, this should only have a marginal impact on our earnings,” SAS CEO Rickard Gustafson said in a statement.

The company is targeting an adjusted operating margin for 2020 of 3-5%.

The loss before tax in the November-Janaury quarter rose to 1.09 billion Swedish crowns ($112.08 million) from 576 million in the year-earlier quarter.

$1 = 9.7253 Swedish crowns Reporting by Anna Ringstrom; editing by Johannes Hellstrom and Terje Solsvik

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