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New restructuring measures for increased competitiveness

New restructuring measures for increased competitiveness

Old Apr 10, 03, 6:50 am
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New restructuring measures for increased competitiveness

New restructuring measures for increased competitiveness

The Board of Directors of the SAS Group has today provided the SAS Group
management team a mandate to implement comprehensive restructuring
measures to ensure the Group's profitability, long-term competitiveness
and efficient flight operations for the Group's airlines.

The SAS Group is already implementing two restructuring programs, with a
total earnings effect of SEK 12.5 billion prior to 2005. It is estimated
that the additional measures will result in further cost savings of SEK
6-8 billion, providing the remaining union negotiations are completed
according to plan.

"These measures are necessary for the Group's ability to compete and
will represent a healthy platform for future expansion. We have achieved
excellent results in negotiations with all of the unions, except for
cabin employees. Agreements have been signed with 35 of the 39 unions
and the SAS Board has assigned us to complete the discussions with the
remaining parties," says Jørgen Lindegaard, SAS's CEO, who continues:

More on http://www.waymaker.net/bitonline/20...50/wkr0001.doc
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