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 ...

Subscribe to Access this Entire Article

"SAS Group reverses losses as belt-tightening takes effect" 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.