SAS to lay off hundreds after disappointing results

SAS maintains that it can still make a profit for the year

Scandinavia’s crown jewel of the skies, SAS, has revealed that it intends to lay off 300 employees after yet another round of disappointing financial results for the second quarter of this year.

Compared to the second quarter last year, turnover was around 1.24 million kroner less, mostly because of increased competition in the Scandinavian airline market.

"Continued intense competition and pressure on prices in the Scandinavian air travel market reduced margins more than expected and SAS posted an EBT of minus1.078 million Swedish krona for the second quarter,” Rickard Gustafson, the head of SAS, said in a press release.

“We are deeply disappointed with the results, which were substantially below our own expectations.”

READ MORE: SAS passenger numbers up, but company remains shaky investment

Still a chance for profits
Gustafson went on to say that the airline needed to act more aggressively and implement more measures geared at saving costs.

Along with the lay-offs, SAS plans to save around 839 million kroner in the next full financial year in 2015 by opening up new routes to the US and Asia from Stockholm and Oslo.

Despite the dour news, SAS maintains that it can still make a profit for the year, but that this will hinge on fuel prices and capacity not changing for the worse.

 

 

TOP STORIES

  • “No one seems to stand up for internationals”

    “No one seems to stand up for internationals”

    “To some extent, Denmark is not fair to internationals.” Nichlas Walsted, 34 years old, is the CEO of Swap Language, a provider of Danish lessons to more than 10,000 internationals. Tens of thousands of people follow him, and he advocates for internationals: “Because no one else does. I can’t think of a single politician or well-known person in Denmark who stands up for them,” he says.

  • Busy Copenhagen Airport nets a nice profit for the Danish State

    Busy Copenhagen Airport nets a nice profit for the Danish State

    Almost 30 million passengers travelled to or from Copenhagen Airport in 2024. The profit was 1.4 billion DKK and both figures are expected to grow in 2025. Expansions continue, and investments are being made in continued progress

  • Copenhagen ranked 4th for career growth

    Copenhagen ranked 4th for career growth

    Copenhagen is ranked as the fourth-best city in the world for career growth, according to an analysis by EnjoyTravel. This ranking considers various factors such as living costs, salary levels, workforce availability, and overall quality of life. Copenhagen is noted for its blend of historical and modern elements, particularly in the green energy sector, which influences job opportunities.

  • Greenlandic election seen as positive by experts

    Greenlandic election seen as positive by experts

    Last night’s Greenlandic election resulted in a surprising landslide victory for the moderate party Demokraatit, who won 30 percent of the votes – a 20 percent rise for the party since the last election.

  • Greenland moves to the right

    Greenland moves to the right

    A very surprising election gives victory to the right-wing opposition party Demokraatit. The incumbent center-left coalition loses spectacularly. Greenland – and Denmark – anxiously await upcoming government negotiations

  • Raise the voice of internationals. Take the survey and share your experience in Denmark.

    Raise the voice of internationals. Take the survey and share your experience in Denmark.

    Copenhagen Capacity has launched a survey for all internationals living in Denmark to find out if they are happy here and what challenges they face. The Copenhagen Post is the media partner for this initiative. You can find the survey below in the article.

Connect club

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.

Sign up here

Career

  • Copenhagen ranked 4th for career growth

    Copenhagen ranked 4th for career growth

    Copenhagen is ranked as the fourth-best city in the world for career growth, according to an analysis by EnjoyTravel. This ranking considers various factors such as living costs, salary levels, workforce availability, and overall quality of life. Copenhagen is noted for its blend of historical and modern elements, particularly in the green energy sector, which influences job opportunities.

  • Data shows that non-Western immigrants have saved local economies in Denmark

    Data shows that non-Western immigrants have saved local economies in Denmark

    A study reveals how only the massive influx of non-Western immigrants has saved many areas in Denmark from a decline in the workforce and a consequently shrinking economy

  • Long-term unemployment is double for non-Western immigrants

    Long-term unemployment is double for non-Western immigrants

    An analysis from the Labour Movement’s Business Council shows that the rate in long-term unemployment for non-Western immigrants is 1.8 times higher than for Danes. In other words, a chronic unemployment situation is way more probable for non-Western internationals.

Want to advertise your job with CPH Post?

Contact us

Jobs