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SAS reports flying into loss in second quarter
0 Comments | AFP, August, 2008
STOCKHOLM (AFP) — Scandinavian airline SAS said on Thursday it had flown into loss during the second quarter owing to the economic slowdown and high fuel prices, and would slash another 500 jobs and seven planes from its fleet.
The company recorded a loss of 411 million kroner (43.9 million euros, 65.4 million dollars) in the April-June period, down sharply from a 607 million kronor profit 12 months earlier, it said in a statement.
Sales however rose 8.7 percent, however, to 17.7 billion kronor.
© 2008 AFP
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