Fewer SAS Planes in the Skies
Scandinavian Airlines continued their run of bad figures, as Sweden's main airline saw a drop of 19% in passenger numbers this May compared to the same month last year.
The airline is already planning cost-cutting measures, including laying off workers and reducing the number of planes by 21. But now it looks like these restructuring measures could actually cost more than previously though, with many employees choosing to take early retirement.
Sture Stölen, head of investment at SAS, says that 'the market is now a much tougher place than a couple of months ago,' and he adds that the worst hit areas are the long-haul flights. Income per passenger killometer has therefore already fallen by almost 12% in April and negative figures are also expected for May.