SNBA Q3 profits

I have to say it is good news:
*** From ATWonline.com***
SN Brussels Airlines, successor to Sabena, cited “the combination of a passenger increase, higher load factors and cost-reducing initiatives” as primary factors behind a net profit of eur2 million ($2.4 million) in the third quarter ended Sept. 30 compared to a net loss of eur19.9 million in the year-ago period.

“For the second consecutive quarter we have posted a profit,” said CEO Peter Davies. “We are very happy because these results have been realized in a still weak economic market situation. The positive figures reflect how determined our entire hardworking staff is. Although it is tremendous news, there is still much work to be done. We will continue to direct our efforts in a way that SN Brussels Airlines becomes a sustainable airline and a true success story.”
Davies added that the carrier is “prudently optimistic” about the fourth quarter and that results for the month of Nov. were better than expected. “Nevertheless, it is too early today to make a forecast for the year-end result,” he said.

Total revenues increased 17% to eur153.8 million. Although it did not provide figures, SN Brussels said its total expenses fell owing to the termination of its partnership with Virgin Express, introduction of three A319s to the medium-haul fleet, renegotiation of several contracts with third parties and reductions in flight frequencies during the weaker summer months. Cost per ASK on European flights has dropped 8.5% since the beginning of the year while CASK on African flight operations fell 12% during the third quarter, the company said.

Load factor on the European fleet increased 4 points to 59%, which was “fully in line with the capacity expansion of the European network.” Load factor on the African network jumped 15 points to 76%. The airline said it flew about 800,000 passengers in the quarter but did not provide RPKs or ASKs.–Cathy Buyck
******
Working in a difficult climate I think it is excellent news to see such an airline working so well. With strategic alliances with many airlines many of their new services seem to have been justified, JFK etc.I think the load factors to Africa are pretty good, a niche market that works well for SNBA.