The SAS Group moved back into the black for the first time in four years when it announced a income after tax of 27.32m (MSEK255) for 2005 compared with a 189m (MSEK1,765) loss in 2004.
The group reported a 6.5% rise in operating revenue from 6.22m (MSEK58,093) to 6.63m (MSEK61,887).
Jørgen Lindegaard, president and ceo of the SAS Group, said the planned re-structuring of the group had achieved as planned savings of 1.5bn (SEK14bn) and unit costs had fallen by more than 30% since 2002.
He said earnings had improved by 193m (SEK1.8bn) compared to 2004.
But he said that Scandinavian Airlines despite "improved cabin factors" had had a "weaker yield."
A statement to shareholders said Scandinavian Airlines “remains unprofitable although it is the
business area with the greatest improvement in earnings in 2005.
"A strong focus on further cost reductions must therefore continue in order to reach a competitive cost level and thus ensure future growth."
Further cuts to Scandinavian Airlines, already underway, are expected to amount to 215m (SEK2bn).
Dutch hotels "recovering"
The Dutch hotel industry is "recovering" with occupancy up from 66.7% to 69.1% in 2005, according to research by Horwath Consulting.
In a survey of 100 Dutch hotels ranging from three- to five-star, the Hilversum-based company said that while average room rates were stable last year, they were expected to rise this year.
It also predicts that occupancy will reach 70% for the first time since 2002.
Horwath said the average Dutch room rate in 2005 was 98 but would likely rise in 2006 to 101.
Revenue per available room (revPAR) was up 3 to 68 in 2005 and would probably rise to 71 this year.
The Amsterdam and Schiphol region fared best with occupancy in the capital standing at 76.6%. Occupancy outside this region was 63.1%.