SAS to continue cost-cutting measures.
Scandinavian Airlines System (SAS) will reportedly continue cutting costs in order to return to profit this year.
The airline for Sweden, Denmark and Norway announced its cost-cutting plans after reporting a bigger than expected loss in 2003. The carrier has revealed weak demand, falling fares and stiff competition, whilst its rivals have been reporting improved results.
SAS posted a pre-tax loss of SEK1.45bn for 2003 against a SEK450m loss in 2002, reported Reuters.
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|Publication:||Airline Industry Information|
|Date:||Feb 12, 2004|
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