Record year for SAS Cargo

Record year for SAS Cargo    SAS Cargo today reported a pre-tax profit of SEK68 million ($8.6 million) in 2005, up 466 percent compared to a profit before tax of SEK12 million in 2004.
   The air freight company’s revenue jumped 16.5 percent to a record SEK3.3 billion ($419 million), from SEK2.8 billion in 2004.
   “Even though we did not completely reach the targets we aimed for, I am happy to conclude that we are developing positively and that we show progress from year to year,” said Kenneth Marx, president and chief executive officer at SAS Cargo.
   “The result in 2005 is the best ever for SAS Cargo, however we need to be better at earning money. And we will do this by increasing focus on our core business and continue to develop our route network and capacity,” Marx said.
   In September 2005, SAS Cargo acquired all of Copenhagen-based Sterling Airlines’ air cargo activities, adding approximately 30,000 tons to its annual European capacity.