Company Watch - SAS Scandinavian.Jun 18, 2007 SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. has slashed more than SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 15 billion kronor (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $2.12 billion) from costs and sold off non-core units in recent years as it has tried to meet stiff competition from low-cost rivals and high fuel costs. But this has not been enough and Chief Executive Mats Jansson this week outlined a plan to cut costs by a further SEK2.8 billion (USD$396 million) by 2011 and boost profits by about SEK4 billion (USD$565 million). The airline made a pretax profit of SEK292 million (USD$41.3 billion) on continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the in 2006. Jun 14, 2007 SAS Scandinavian unveiled plans on Wednesday to lift profits by cutting costs and spinning off units such as Spanish airline Spanair. The airline, half-owned by the governments of Sweden, Denmark and Norway, said it aimed to raise annual pretax profits to about SEK4 billion Swedish kronor (USD$564 million) and cut costs by SEK2.8 billion (USD$395 million) by 2011. SAS, which has said it needs to boost earnings to cope with investment in renewing its passenger jets in the coming years, reported a pretax profit of SEK292 million (USD$41.2 million) in 2006. Jun 13, 2007 SAS Scandinavian said it was discussing the future of its 20 percent stake in British carrier bmi with Germany's Lufthansa. Around 12 percent of take-off and landing slots Landing slots or Airport slots are rights allocated to an airline by an airport or government agency granting an airline the right to schedule a landing or departure at a specific time. at Britain's crowded Heathrow Airport are held by bmi, which operates around 1,700 flights per week. SAS on Wednesday outlined plans for its future including selling off its holdings in bmi, Air Greenland Air Greenland is the regional airline of Greenland, based in Nuuk. It operates largely domestic services, with international services to Copenhagen and Baltimore . It offers concessional air services to all communities in Greenland and operates charter, taxi and special flights, and its Spanair unit to help it boost profitability. SAS said it was not talking to Noun 1. talking to - a lengthy rebuke; "a good lecture was my father's idea of discipline"; "the teacher gave him a talking to" lecture, speech rebuke, reprehension, reprimand, reproof, reproval - an act or expression of criticism and censure; "he had to any other companies about the bmi stake. Lufthansa, which owns 30 percent of bmi minus one share, declined to comment, saying it continued to observe the market. Sir Michael Bishop Michael Bishop may refer to:
SAS To Cut Costs, Sell Units. SAS Scandinavian unveiled plans on Wednesday to lift profits by cutting costs and selling off units such as Spanish airline Spanair, BMI and Air Greenland stakes. Jun 13, 2007 Editorial eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new service that keeps travelers informed on flight and airport status via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Air Travel Media / Pyramid Media Group. All rights reserved. |
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