A stunning SEK6.32 billion ($754.7 million) full-year loss, reversed from a SEK636 million profit in 2007, prompted yesterday's unveiling of a new restructuring initiative dubbed Core SAS that will include a SEK6 billion rights issue and approximately 3,000 layoffs. SAS Group President and CEO Mats Jansson said Core will "lead to SAS becoming a more focused and less complex company" concentrating on the Nordic market, business travelers, "efficient" organization, reduced costs and a ...

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