SAS CEO steps down
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.