SAS today announced a comprehensive plan to improve profitability and secure long term financial preparedness.
However new collective agreements with the employees must be reached in the near future.
The new aggressive plan called 4Excellence Next Generation (4XNG) addresses SAS's structural and financial challenges. The new plan includes measures to increase earnings, including new collective agreements with such features as changed pension conditions and a significant reduction in administration.
According to Scandinavian media, 6000 employees will have to leave the company, the lower the wages
SAS goal is to save 350 million Euro and get new cash by selling off property and services in the same order of 350 million Euro. The commuter airline Wideroe will be sold along with other services.
A light in the darkness is said to be that the company has now been given a go ahead from the European Union to get loans and guarantees from it's owners, the Swedish, Norwegian and Danish states.
To get this plan to work is said to be essential for the survival of the company.
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