SAS Lifts Profit, Seeks $900 Million in Cuts, Disposals

SAS Group, the No. 1 Nordic airline, said third-quarter profit doubled and that it’s completing plans to sell 3 billion kronor ($450 million) of assets and cut the same amount from costs. The stock rose the most in 14 months.

Pretax profit totaled 568 million kronor as passenger revenue increased 9 percent and unit costs were reduced by 6 percent, Stockholm-based SAS said today in a statement. That compares with earnings of 276 million kronor a year earlier.