SAS reported a loss before tax of SEK 1,024 million (€110 million) between July and September 2009, after being fined €70 million for price-fixing by the European Commission.
During the same period in 2009, the Scandinavian airline made a profit before tax of SEK 114 million.
SAS was found guilty of taking part in an illegal cartel, along with 10 other airlines, including British Airways and Air France KLM.
The Scandinavian carrier received a harsher punishment than the other airlines, as it also received a fine for price-fixing in 1998.
In a statement, SAS confirmed its earnings had been affected by the fine.
John Dueholm, SAS’ acting CEO, said: “The effects were largely anticipated and the group’s financial preparedness has been adapted to manage these.
“By now putting these events behind us, we can channel our energy on looking to the future and fully focusing on our core operations.”
Despite the loss, the airline said it hopes to improve its profitability in the coming months, by reducing costs.
It reduced its unit costs by 8.7% during the third quarter of the year, and reported growth in intercontinental and business travel.