19 NOVEMBER 2012

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Article from BTNews 19 NOVEMBER 2012

SAS survival plan

Scandinavian airline SAS has unveiled a raft of job cuts and radical changes in a new survival plan.

Rickard Gustafson, President and Chief Executive of SAS, said: ‘This truly is our “final call” if there is to be an SAS in the future.

“We have been given this final chance to make a fresh start and to carry on these fundamental changes.  I know that we are asking a lot of our employees, but there is no other way”.

The airline is targeting about £290m of annual cost reductions and organisational restructuring including the sale of regional carrier Widerøe and a reduction of staff by about 800.  He noted that new union agreements must be signed in the near future.
 
SAS has been able to increase passenger revenue by 9% and reduce the unit cost by 6% in the third quarter of 2012, a positive sign.  However an announcement is expected today (Monday 19 November) on just where the airline is going following a weekend board meeting. www.flysas.com

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