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SAS dreams of defying gravity – but for how long

15-Aug-2008

Announcing another weak financial result, losing SKR411 million for the second quarter - albeit less than feared – SAS is to continue to contract in a quest for profitability. The Scandinavian flag carrier will seek to cut another 500 jobs in addition to the 1,000 announced in April, also grounding a total of 18 aircraft. Subsidiary Spanair, mired in a cut-throat Spanish market, is also grounding 15 aircraft and cutting 1,000 staff. [493 words]

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  • SAS group share price: Sep-07 to Aug-08
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