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(UPDATE) SAS | To cut more than 7,000 jobs

SAS Group to cut more than 7,000 jobs

SAS Group’s plans to eliminate jobs and shrink its business were accepted by pilot and cabin-crew unions as Scandinavia’s biggest airline fights to stay afloat.

SAS surged 29 per cent after reaching accords with all eight labour groups, with one deal that covers 600 Swedish cabin crew freezing pay through 2014 and lifting the retirement age to 65, according to their union.

Danish flight attendants were the last to sign up, hours after a midnight deadline for a deal expired.

Unprofitable on an annual basis since 2007, SAS is planning 6 billion kronor (Dh3.3 billion) in cost cuts and disposals as it seeks an extension of credit lines needed to keep flying…

Choosen excerpts by Job Market Monitor from

via SAS Group to cut more than 7,000 jobs | GulfNews.com.

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SAS to cut jobs and sell assets in survival plan

Loss-making airline SAS will shed nearly 6,000 staff through cuts and asset sales to secure loans from banks and Nordic governments to help it survive a global downturn and fierce competition.

SAS (SAS.ST), one of the European flag-carriers being squeezed by discount carriers such as Ryanair (RYA.I) and Norwegian (NWC.OL), has not made a full-year profit since 2007. Without the loans, SAS might have to stop flying.

It said 800 jobs would be cut and the sales of regional airline Wideroe and the group’s ground handling unit would reduce staff to around 9,000 in total from 15,000 now.

Announcing its new savings plan on Monday, it said it expected a slight pretax loss again this year.

“This truly is our ‘final call’ if there is to be a SAS in the future,” said SAS chief executive Rickard Gustafson…

Choosen excerpts by Job Market Monitor from

via SAS to cut jobs and sell assets in survival plan | Reuters.

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  1. Pingback: Air France / To cut 2,500 jobs in 2014 | Job Market Monitor - August 1, 2013

  2. Pingback: Alitalia / To cut up to 2,600 staff ? | Job Market Monitor - November 20, 2013

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