Source: - UK News
SAS to axe 3,000 jobs in shake-up
Scandinavian airline SAS is to cut 3,000 jobs after reporting big losses in 2008.
It reported net losses of 6.32bn kronor ($757m; £532m) in 2008, after profit of 636m kronor in 2007. And it lost 2.77bn kronor in the fourth quarter alone.
The carrier has also announced it would make a 6bn kronor rights issue, as part of a financial plan called Core SAS.
SAS said the yearly figure included a loss of 4.89bn kronor associated with the sale of Spanish subsidiary Spanair.
SAS to axe 3,000 jobs in shake-up
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SAS to axe 3,000 jobs in shake-up
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