SAS Group (Scandinavian Airlines-SAS) (Stockholm) after fighting to stay out of bankruptcy, has posted its first full year net profit since 2007.
After making massive cuts to positions and salaries, the company reported a net profit of $27.3 million for its fiscal year ending on October 31. The company still remains a high cost airline and it expects weaker conditions to continue.
Read the full report: CLICK HERE
Read the analysis from the WSJ: CLICK HERE
Copyright Photo: Stefan Sjogren/AirlinersGallery.com. Scandinavian Airlines’ Boeing 737-883 LN-RCY (msn 28324) in the special “Disney Planes – See the Movie” motif arrives at the Stockholm (Arlanda) hub.