The Scandinavian SAS Group reported a net income of SEK179 million ($27.3 million) for the year ended Oct. 31, reversing a loss of SEK3 billion in the year-ago period. The company said its cost-cutting and restructuring strategy, which included the sale of regional carrier Widerøe toward the end of the financial year, is starting to pay off and contributed to the turnaround. SAS president and CEO Rickard Gustafson said: “Developments in the fourth quarter underlined the speed at ...

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