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| SAS to cut more than 1,000 jobs | SAS to cut more than 1,000 jobs |
| (about 3 hours later) | |
| Scandinavian airline SAS has said it will cut another 1,000 to 1,500 jobs as part of a fresh cost-cutting programme. | Scandinavian airline SAS has said it will cut another 1,000 to 1,500 jobs as part of a fresh cost-cutting programme. |
| The cuts aim to save 2bn Swedish kronor ($276m; £166m), with SAS also seeking a 10-20% cut in pay and pensions for cabin crew and pilots. | The cuts aim to save 2bn Swedish kronor ($276m; £166m), with SAS also seeking a 10-20% cut in pay and pensions for cabin crew and pilots. |
| SAS had already announced a major cost-cutting programme in February, when it said it would be shedding 3,000 jobs. | SAS had already announced a major cost-cutting programme in February, when it said it would be shedding 3,000 jobs. |
| The airline also announced it had made a net loss of 1.05bn kronor in the second quarter of 2009. | The airline also announced it had made a net loss of 1.05bn kronor in the second quarter of 2009. |
| Fighting for survival | Fighting for survival |
| "Additional measures are required to manage the unique, fierce competition in today's highly challenging market," said SAS president and chief executive Mats Jansson. | "Additional measures are required to manage the unique, fierce competition in today's highly challenging market," said SAS president and chief executive Mats Jansson. |
| "Accordingly, it is essential that we now completely close SAS's cost gap with our competitors. This is a matter of competing on equal conditions and, ultimately, about the survival of SAS." | "Accordingly, it is essential that we now completely close SAS's cost gap with our competitors. This is a matter of competing on equal conditions and, ultimately, about the survival of SAS." |
| SAS said its second-quarter results had been hit by falling demand, with sales for the period down to 12.2bn kronor from 14.4bn in the same period last year. | SAS said its second-quarter results had been hit by falling demand, with sales for the period down to 12.2bn kronor from 14.4bn in the same period last year. |
| "The effects of the global recession are being felt extensively throughout the aviation industry," SAS said. | "The effects of the global recession are being felt extensively throughout the aviation industry," SAS said. |
| The latest round of job cuts at SAS will trim the size of company's workforce by between 5% and 8%. | The latest round of job cuts at SAS will trim the size of company's workforce by between 5% and 8%. |
| In February this year, SAS - 50% of which is jointly owned by the governments of Sweden, Denmark and Norway - announced a major restructuring package, called Core SAS. | |
| The programme involved shedding about 40% of the airline's 23,000 workforce, selling off stakes held in other carriers and raising 6bn kronor though a share sale. | The programme involved shedding about 40% of the airline's 23,000 workforce, selling off stakes held in other carriers and raising 6bn kronor though a share sale. |
| SAS said it was ahead of schedule in implementing the measures under Core SAS. | SAS said it was ahead of schedule in implementing the measures under Core SAS. |