SAS airline slashes losses

In the November-January 2013 period, SAS Group narrowed its net loss to 630 million kronor (€76 million) from 2.5 billion kronor a year earlier. Revenue rose 6.3% to 9.6 billion kronor from 9.3 billion kronor, while overall traffic grew 4.3%. “SAS is continuing to deliver, step by step, in accordance with the restructuring plan that was presented in November of last year,” says Rickard Gustafson, President and CEO. “Behind this progress lies one of the most extensive restructuring plans in the Scandinavian business sector – under an agreement with our employees, SAS expects to reduce its outstanding pension obligations by