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SAS CEO steps down

Published tisdag 16 maj 2006 kl 13.31

The chief executive of Scandinavian Airlines SAS, Jorgen Lindegaard, announced today that he would step down from his post this autumn.

In a press conference this morning, Jorgen Lindegaard, chief executive since May 2001 said, quote, ”These have been five years dominated by major changes. The September eleventh disaster occurred shortly after I joined SAS and it had a strong impact on travel”.

SAS has also suffered from soaring oil prices, overcapacity and competition from budget airlines.

Lindegaard led a hefty programme to cut 1.90 billion dollar costs, which was completed at the end of last year. Due to the programme, the company was able to report a pre-tax profit for the first time in four years.

No successor has been appointed yet.

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