=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SFGate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/n/a/2008/08/14/financial/= f021940D43.DTL --------------------------------------------------------------------- Thursday, August 14, 2008 (AP) Scandinavian SAS swings to 2Q loss; more job cuts (08-14) 02:19 PDT STOCKHOLM, Sweden (AP) -- Scandinavian airline SAS AB reported a second-quarter loss Thursday because of high fuel costs and weaker demand, and warned of further job cuts and fleet reductions. The Stockholm-based carrier said that net loss in the three months throu= gh June 30 was 411 million kronor ($70 million), down from a net profit of 607 million kronor in the same period in 2007. Revenue in the period grew 9 percent to 17.7 billion kronor ($2.8 billio= n) from 16.3 billion kronor last year. SAS said it will continue to cut costs by 400 million kronor ($64 millio= n) to save a total 1.5 billion kronor ($239 million) this year. The program includes 33 fewer aircraft and cutting 2,500 jobs in 2008. SAS Chief Executive Mats Jansson said the company was hit by growing fuel costs, lower demand because of a general downturn in the economy and overcapacity in the market. "There is no doubt that the situation in the air travel industry is serious and probably the most difficult it has ever been," Jansson said. SAS flew 31 million passengers last year to 152 destinations in 34 countries. ____ On the Net: SAS site:www.sasgroup.net ----------------------------------------------= ------------------------ Copyright 2008 AP <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> If you wish to unsubscribe from the AIRLINE List, please send an E-mail to: "listserv@xxxxxxxxxxxxxxxxx". Within the body of the text, only write the following:"SIGNOFF AIRLINE".