SAS AB Annual Report 2008
Annual Report
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Cover
Contents
The SAS Group in brief
The companies in brief
Important events
President’s comments
Cultural turnaround
Core SAS
Focus on Nordic home market
Focus on business travelers and strengthened commercial offering
Improved cost base
Efficient decision-making and cost-effective organization with a customer-oriented culture
Strengthened capital structure
The market and external factors
Analysis of competitors
Responsible traffic growth
Policy framework for aviation, aviation security and quality processes
Flight safety
Safety culture
Star Alliance™
The capital market
The share
Share data
External factors, cycles and trends
The aircraft fleet and future strategy
Risks, risk management and sensitivity analysis
Financing, investment, liquidity and capital employed
Business areas
SAS Scandinavian Airlines
Scandinavian Airlines Norge
Scandinavian Airlines Danmark
Scandinavian Airlines Sverige
Scandinavian Airlines International
SAS Individually Branded Airlines
Widerøe
Blue1
Discontinued and affiliated airlines provided for information purposes
Spanair and Estonian Air
SAS Aviation Services
SAS Ground Services
SAS Tech
SAS Cargo
Facts
Traffic data information and comments
Key figures - Business areas and companies
Statement of income - Business areas
Group operational key figures and Loyalty program
Ten-year financial overview Statements of income and balance sheets, cash flow, key figures and targets
Ten-year financial overview Financial key figures
Star Alliance™
Annual Report
Report by the Board of Directors
SAS Group statement of income
Comments on the statement of income
Statement of income - Quarterly breakdown
SAS Group balance sheet
Comments on the balance sheet
Changes in shareholders’ equity
SAS Group cash flow statement
Comments on the cash flow statement
Notes to the financial statements
Note 1 • Significant accounting policies
Note 2 • Revenue
Note 3 • Payroll expenses
Note 4 • Other operating expenses
Note 5 • Depreciation, amortization and impairment
Note 6 • Share of income and equity in affiliated companies
Note 7 • Income from the sale of aircraft and buildings
Note 8 • Income from other holdings of securities
Note 9 • Net financial items
Note 10 • Tax
Note 11 • Discontinued operations
Note 12 • Intangible assets
Note 13 • Tangible fixed assets
Note 14 • Prepayments relating to tangible fixed assets
Note 15 • Financial fixed assets
Note 16 • Long-term receivables from affiliated companies
Note 17 • Pension funds, net
Note 18 • Expendable spare parts and inventories
Note 19 • Current receivables
Note 20 • Current receivables from affiliated companies
Note 21 • Prepaid expenses and accrued income
Note 22 • Short-term investments
Note 23 • Reserves
Note 24 • Long-term liabilities
Note 25 • Subordinated loans
Note 26 • Bond issues
Note 27 • Other loans
Note 28 • Financial risk management and financial derivatives
Note 29 • Other provisions
Note 30 • Short-term loans
Note 31 • Liabilities to affiliated companies
Note 32 • Unearned transportation revenue (net)
Note 33 • Accrued expenses and prepaid income
Note 34 • Pledged assets
Note 35 • Contingent liabilities
Note 36 • Leasing commitments
Note 37 • Adjustments for items not included in cash flow, etc.
Note 38 • Acquisition of subsidiaries
Note 39 • Disposals of subsidiaries and affiliated companies
Note 40 • Cash and cash equivalents
Note 41 • Auditors’ fees
Note 42 – Transactions with affiliated companies
Note 43 • Segment reporting
Note 44 • Subsidiaries in the SAS Group
SAS AB, parent company
Statement of income
Balance sheet
Cash flow statement
Changes in shareholders’ equity
Note 1 • No. of empl., salaries, other remuneration and soc. security exp.
Note 2 • Income from financial items
Note 3 • Tax
Note 4 • Intangible assets
Note 5 • Tangible fixed assets
Note 6 • Shares in subsidiaries
Note 7 • Participations in affiliated companies
Note 8 • Other holdings of securities
Note 9 • Contingent liabilities
Note 10 • Fees to audit firms
Auditor’s report
Corporate Governance Report
SAS Group’s areas of responsibility
SAS Group legal structure
SAS Group’s labor union structure within Scandinavia
Board of Directors
Group Management
Sustainability Report
Our world – our stakeholders
Goals and strategies
Goal attainment
Responsibility for sustainable development
Reducing environmental impact
Organization and management
Results for the year
Environmental responsibility
CSR
Financial responsibility
Business areas
Limited assurance report
Aircraft fleet
SAS Group route network
Definitions & concepts
Sustainability-definitions & concepts
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