Scandinavian airline SAS to cut unit costs
Sept. 14, 2011, Stockholm, Swe. - Scandinavian airline SAS AB says it will trim unit costs by up to 5 per cent a year until 2015 as it struggles against rapidly expanding competitors.
September 14, 2011 By The Associated Press
The Stockholm-based company said Wednesday the cutbacks are aimed at "sustainable profitability,'' including by improving efficiency in sales, operations and customer relations.
SAS would give no further details on the cost cutting until the Nov. 8 release of its third-quarter report, when it plans to unveil its new strategy. Earlier this year, the airline group completed a major savings program involving thousands of layoffs and a 23 per cent cut in expenses since 2008.