SAS Group's restructuring plans: A, B, C ...

摘要

First quarter 2003 results for the SAS Group reveal that losses are increasing despite significant restructuring and cost cutting in 2002. Can the multinational company, Europe's fourth largest airline group, ever overcome its high cost base, or might it be forced into selling off parts of the SAS empire? In the first three months of 2003 the SAS Group reported an operating loss of SEK1.9bn ((EuD)210m), compared to a loss of SEK1.4bn in 1Q 2002). The Group made a net loss of SEK1.6bn (SEK1.3bn loss in 1Q 2002). The figures make grim reading for a company that underwent substantial changes supposed to bring it back into profit for the first time since 2000.