From epn.dk translated through Google:

Sydbank: Positive passenger growth with SAS - but yield still weak

Passenger growth with SAS in July was better than expected, and the airline have been better to fill their planes.

But the yield development - which reflects earnings per. passages in relation to the distance flown - is on the weak side is immediate comment from SAS analyst Jacob Pedersen from Sydbank looking at SAS July traffic figures.

- They have no more capacity in, than expected and the traffic growth of 7 per cent is somewhat higher than predicted, says Jacob Pedersen. He had expected a traffic growth of approx. 3 per cent.

By contrast, Jacob Pedersen not impressed by developments in the yield that with a decrease of 3.4 percent. are weaker than the analyst had expected.

- And it is still a concern...

Overall he feels that SAS will have a larger share of growth as the aircraft returns better and that the negative yield-development took to a certain extent predictable.

- It is long since we've seen a passenger growth of 7 per cent., Notes Sydbank analyst.

07 Aug 2010, epn.dk