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). ...
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