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SAS announces a further 200 job cuts

TT/The Local/pvs · 27 Jan 2013, 16:17

Published: 27 Jan 2013 16:17 GMT+01:00

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SAS information head Knut Morten Johansen told Norwegian news website E24 that the job cuts will be spread across several countries and areas of the concern.

The information that the cuts to administrative staff now total around 1,000 people emerged at a meeting between the firm's leadership and unions on Thursday.

SAS last November struck deals with all of its unions to cut salaries and pensions and raise working hours in a bid to turn the company's dire financial situation around.

The job losses are the latest in a series of aggressive cost-cutting measures aimed at meeting pressure from low-cost rivals such as Oslo-based Norwegian, Europe's third-largest budget airline.

The firm announced in a statement in December that it expects the cost-cutting to lead to pre-tax profits in the fiscal year ending 2013.

Story continues below…

The Swedish state, which holds a 21.4 percent share in the firm, confirmed in November that a buyer was actively being sought for the beleaguered airline.

Sweden, along with Denmark and Norway - which each hold stakes of 14.3 percent - have jointly invested more that 10 billion kronor ($1.5 billion) over the past decade to shore up the firm's mounting losses.

TT/The Local/pvs (news@thelocal.se)

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