SAS aims at being able to generate enough money next year in order to finance the company’s expenses so that the airline company might look attractive as a takeover target, CEO Mats Jansson told Bloomberg News in connection with IATA’s annual meeting in Berlin.
SAS initiated its cost reduction program of SEK 7.8 billion, Core SAS, in February 2009, a move which will cut 4600 jobs and ground 21 aircraft by the end of 2011. According to Jansson SAS has fulfilled 65-70 per cent of the objective and is on the right track to fulfill the cost reduction plan.
As far as the restoration of the airline industry is concerned, Mats Jansson sees clearer signs of improvement now than in the first quarter. He refrained from estimating the company’s earnings in the current quarter but he expects that the consolidation process in the airline industry will gain momentum next year.
»When the airline companies have made their homework, the markets have stabilised and earnings and load factor are balanced, then the company boards will begin to examine the list of potential acquisitions again,« Mats Jansson said. Direkt/BNS
SAS initiated its cost reduction program of SEK 7.8 billion, Core SAS, in February 2009, a move which will cut 4600 jobs and ground 21 aircraft by the end of 2011. According to Jansson SAS has fulfilled 65-70 per cent of the objective and is on the right track to fulfill the cost reduction plan.
As far as the restoration of the airline industry is concerned, Mats Jansson sees clearer signs of improvement now than in the first quarter. He refrained from estimating the company’s earnings in the current quarter but he expects that the consolidation process in the airline industry will gain momentum next year.
»When the airline companies have made their homework, the markets have stabilised and earnings and load factor are balanced, then the company boards will begin to examine the list of potential acquisitions again,« Mats Jansson said. Direkt/BNS
