Scandinavian Airlines Group said recently discovered financial reporting errors at its Spanair subsidiary related to improper accounting of certain revenues and costs will result in a charge against earnings at Spanair of SEK80 million ($10.6 million) for the 2005 fourth quarter. The SAS subsidiary still is expected to show a profit for the quarter and the corrections will not affect SAS Group's full-year outlook, the company stated. SAS also will restate results for the 2002-04 period with ...

Subscribe to Access this Entire Article

"Other News - 01/24/2006" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.