Scandinavian Airlines makes small Q2 profit after nine months of losses

Scandinavian Airlines recently announced its operational results for the second quarter of this year.
 
The airline in a statement said that Scandinavian Airlines flights performed well and were able to make a small profit in Q2 2012 after nine months of losses.

The airline stated that cost cutting measures proved to be beneficial and helped it to offset the effects of a weak economic environment and increasing jet fuel prices.

Media reports said that even though the global economy is not as bad as in 2008-09, many European carriers have however been affected by a decline in travel.

Scandinavian Airlines said that increasing jet fuel prices had been a cause for constant worry, and it increased $119.3 million in the second quarter alone as compared to the same period last year.

The airline made a pretax profit of $55.32 million in Q2 this year. The airline had not been able to make a full year profit ever since 2007.