Airline SAS, half owned with the governments of Sweden, Denmark and Norway, supposed eight unions had backed wage cuts and changes to operational schedules and pensions, after discussion missed a Sunday deadline and continued through the night. The company's shares soared on the agreement after media conjecture that the airline could have faced bankruptcy if the talks had disastrous.
Almost hit by opposition from lower-price rivals, Airlines SAS last week said it would diminish overall staffing by about 40% to 9,000 by shedding assets, reduce the workforce by a additional 800 with job cuts and decrease some salaries by up to 17 % to get new financing from banks and its major owners. Even though unions contain agreed to the cuts, analysts have questioned whether the airline can live on its own in the long term as it faces stiff competition from Ryan air (RYA.I) and area rival Norwegian Air Shuttle (NWC.OL), both of which have lower operating costs.
Almost hit by opposition from lower-price rivals, Airlines SAS last week said it would diminish overall staffing by about 40% to 9,000 by shedding assets, reduce the workforce by a additional 800 with job cuts and decrease some salaries by up to 17 % to get new financing from banks and its major owners. Even though unions contain agreed to the cuts, analysts have questioned whether the airline can live on its own in the long term as it faces stiff competition from Ryan air (RYA.I) and area rival Norwegian Air Shuttle (NWC.OL), both of which have lower operating costs.
No comments:
Post a Comment