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.

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