SAS Group launched a new SEK2 billion ($272 million) cost-saving program after posting its seventh consecutive quarterly consolidated net loss, a SEK1.05 billion second-quarter deficit that compared to a SEK422 million net loss in the year-ago period. The new initiative, which includes cutting another 1,000-1,500 jobs and a 10%-20% pay and pension reduction for cabin crew and pilots, is in addition to the SEK4.5 billion "Core SAS" cost-cutting plan initiated in February (ATWOnline, Feb 4). ...

Subscribe to Access this Entire Article

"SAS reports seventh straight quarterly loss, targets additional cost-cutting" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.