SAS Warns Shareholders It Needs More Money as 5,000 Jobs Cut
This article is for subscribers only.
Scandinavia’s main carrier SAS AB warned shareholders it will need to generate more funding to see it through the crisis triggered by Covid-19.
The company has halted most of its traffic and started a process to cut 5,000 jobs, it said on Thursday. SAS is in “ongoing and constructive discussions” with its “largest owners on a recapitalization plan to secure adequate levels of funding and equity for the future,” it said.