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Airline SAS delays Q3 report, to unveil plans in days
November 8, 2012 / 7:12 AM / 5 years ago

Airline SAS delays Q3 report, to unveil plans in days

STOCKHOLM, Nov 8 (Reuters) - Scandinavian airline SAS delayed its third-quarter report saying it was finalising a plan to bring it back to profit as it fights with high costs, cut throat competition, soaring jet fuel prices and a global downturn.

The airline, which has not made a full-year profit since 2007, announced at the end of last it was in negotiations with creditors to extend financing and that it was planning sweeping changes to cut costs.

“SAS has materially advanced these negotiations and the plan, and both are expected to be finalized within a few days,” the company said in a statement.

It said it would make a new announcement no later than Nov. 12.

SAS has already published preliminary figures showing it made a pretax profit of 568 million Swedish crowns in the third quarter. (Reporting by Simon Johnson)

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