SAS Gains as Profit Rises on Payroll Costs: Stockholm Mover
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SAS Group gained the most in seven months after the Nordic region’s largest airline exceeded its profitability target in the third quarter, helped by lower payroll costs and higher passenger revenue.
The shares rose as much as 11 percent to 14.90 kronor in Stockholm today, where the company is based. That’s the steepest intraday jump since Jan. 24. They traded at 14.40 kronor, up 7.5 percent, at 2:10 p.m., valuing the company at 4.74 billion kronor ($720 million).