During April, only a limited network in Norway and Sweden was maintained.
SAS’ scheduled capacity fell with nearly 95% compared to last year as a result of the ongoing COVID-19 pandemic.
“We continue to face challenging times that are radically impacting our business. Even though no one can foresee exactly how passenger demand will evolve in the coming months and years, it is clear that it will take a much longer time than previously anticipated. In our view, it will take until 2022 before demand starts to reach pre-COVID-19 levels.
“The current situation forces us to take all possible measures to reduce costs and preserve cash to be able to emerge from this crisis as a sustainable, profitable and vital part of Scandinavian infrastructure. Given the time it will take to ramp up production, we have unfortunately had to initiate processes to reduce the size of our future workforce by up to 5,000 full-time positions.
“As part of our ongoing work to safeguard our future, I’m grateful and pleased that we now have secured the SEK 3.3Bn revolving credit facility guaranteed by the states of Sweden and Denmark. This additional liquidity will, alongside our initiated cost reduction measures, give us the time needed explore further opportunities and financial support to safeguard our business,” says Rickard Gustafson, CEO SAS.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
