Scandinavian Airlines-SAS (Stockholm) is again back in a financial crisis mode. After reporting a net loss of over $120 million in its fiscal second quarter ending on April 30, the airline has announced it is again tightening its efforts to reduce costs. This time it will include another 300 jobs being axed. The airline is coming under intense pressure from lower cost airlines like Norwegian and Ryanair.

Read the full report from the company: CLICK HERE

Read the analysis from the Wall Street Journal: CLICK HERE

Copyright Photo: Stefan Sjogren/AirlinersGallery.com. Boeing 737-783 LN-RNU (msn 34548) arrives back at the Stockholm (Arlanda) hub.

Scandinavian Airlines-SAS: