Q1: Strengthened passenger demand and steady progress with our transformation plan
We are pleased that so many passengers are returning to SAS. Passenger demand continued the strong trend during the first quarter. SAS’ total number of passengers grew by 48 percent compared to the same period last year. Our flown load factor of 69.3 percent was at pre-pandemic levels of 69.5 percent for the first quarter in FY2020. At the same time, our currency-adjusted passenger yield increased almost 7 percent compared to the first quarter in 2022. Due to our normal seasonality, the winter season is slower with relatively lower passenger numbers. Economic uncertainties with