SAS Has Financial Troubles, Too | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

 Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.29.24

Airborne-NextGen-04.30.24

 Airborne-Unlimited-05.01.24 Airborne-AffordableFlyers--05.02.24

Airborne-Unlimited-05.03.24

Thu, May 15, 2003

SAS Has Financial Troubles, Too

Declining Traffic Hits Hard

Scandinavian Airlines has just reported its largest-ever quarterly loss, 28% worse than even last year's red-ink-record first quarter.

A deficit of some 1.446 billion kroner (US$181.3 million) dwarfed last year's first-quarter loss of 1.17 kroner. SAS CEO Jørgen Lindegaard said in a statement from Stockholm that he is unhappy with the airline's performance, while adding that no one could have predicted the effect of SARS. He wrote, "Historically, the SAS Group experiences its lowest demand in the first quarter, but this year the period was exceptionally weak. From March onwards, SARS had a negative impact on demand on routes to and from parts of Asia."

That scare, added to the already-lousy airline-travel environment, will be listed as a prime cause of the airline's plan to fire or furlough roughly 7500 employees, some 20% of the headcount. The reductions, hinted-at for weeks, should help the airline reduce capacity, part of its plan to save over 13 billion kroner per year, by the time it's fully-implemented, in 2005.

FMI: www.scandinavian.net

Advertisement

More News

ANN's Daily Aero-Linx (05.02.24)

Aero Linx: Model Aeronautical Association of Australia MAAA clubs are about fun flying, camaraderie and community. For over 75 years, the MAAA has been Australia’s largest fl>[...]

ANN's Daily Aero-Term (05.02.24): Touchdown Zone Lighting

Touchdown Zone Lighting Two rows of transverse light bars located symmetrically about the runway centerline normally at 100 foot intervals. The basic system extends 3,000 feet alon>[...]

Aero-News: Quote of the Day (05.02.24)

“Discovery and innovation are central to our mission at Virgin Galactic. We’re excited to build on our successful record of facilitating scientific experiments in subor>[...]

ANN FAQ: Contributing To Aero-TV

How To Get A Story On Aero-TV News/Feature Programming How do I submit a story idea or lead to Aero-TV? If you would like to submit a story idea or lead, please contact Jim Campbel>[...]

NTSB Final Report: Cirrus Design Corp SR20

Student Pilot Reported That During Rotation, “All Of A Sudden The Back Of The Plane Kicked To The Right..." Analysis: The student pilot reported that during rotation, “>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne 05.03.24: Advanced Powerplant Solutions, PRA Runway Woes, Drone Racing

Airborne Affordable Flyers 05.02.24: Bobby Bailey, SPRG Report Cards, Skydive!

Airborne 05.01.24: WACO Kitchen, FAA Reauthorization, World Skydiving Day

See All

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC