The SAS pilots and cabin crews will now come under a major pressure. If they do not accept the cost savings program SAS risks losing out on the vital billion kroner injection by the shareholders, the SAS spokesman Sture Stølen told borsen.dk.
»It is correct that the cost savings program of SEK 500 million affecting cabin crews and pilots is necessary to persuade the shareholders to invest more money in the company,« he told borsen.dk.
The four largest shareholders, one of them being the Danish government, have declared themselves to be willing to inject extra billions in a capital increase of SEK 5 billion, if, of course, the SAS employees are willing to make their contribution.
The Danish share amounts to DKK 525 million.
The downturn in 2009 has eroded the original estimates for the Core SAS strategy, why it is necessary with extra cost savings and new shareholder capital.
If SAS does not obtain the extra SEK 5 billion, it is not possible to create a competitive SAS which can pull through the crisis.
SAS will dismiss another 700 employees
SAS’ intensified cost savings will result in further dismissals in the hard-pressed airline company.
The crisis in 2009 increases the saving requirements by SEK 2 billion which will result in the dismissal of extra 700 employees.
Totally, this means that the Core SAS strategy will cut 4300 jobs in the period 2009-2011.
»The new savings initiatives are expected to lead to a reduction of a further 700 full-time jobs in 2010 and 2011,« SAS wrote in its year-end report.
The original plan was to cut 3000 jobs. This figures was raised by 600 after a disappointing third quarter 2009. And now a further 700 employees will have to find a new job.
»It is correct that the cost savings program of SEK 500 million affecting cabin crews and pilots is necessary to persuade the shareholders to invest more money in the company,« he told borsen.dk.
The four largest shareholders, one of them being the Danish government, have declared themselves to be willing to inject extra billions in a capital increase of SEK 5 billion, if, of course, the SAS employees are willing to make their contribution.
The Danish share amounts to DKK 525 million.
The downturn in 2009 has eroded the original estimates for the Core SAS strategy, why it is necessary with extra cost savings and new shareholder capital.
If SAS does not obtain the extra SEK 5 billion, it is not possible to create a competitive SAS which can pull through the crisis.
SAS will dismiss another 700 employees
SAS’ intensified cost savings will result in further dismissals in the hard-pressed airline company.
The crisis in 2009 increases the saving requirements by SEK 2 billion which will result in the dismissal of extra 700 employees.
Totally, this means that the Core SAS strategy will cut 4300 jobs in the period 2009-2011.
»The new savings initiatives are expected to lead to a reduction of a further 700 full-time jobs in 2010 and 2011,« SAS wrote in its year-end report.
The original plan was to cut 3000 jobs. This figures was raised by 600 after a disappointing third quarter 2009. And now a further 700 employees will have to find a new job.
