Stockholm - The SAS Group, the operator of the joint carrier
Scandinavian Airlines, on Wednesday posted a pre-tax loss for third-
quarter 2008, citing high fuel costs, the economic downturn and a
goodwill writedown in its Spanish-based carrier.
SAS chief executive Mats Jansson said the group needed to implement
more belt-tightening measures saying the "crisis in the air travel
industry strikes indiscriminately."
He noted the recent bankruptcy of low-cost rival Sterling Airlines, one of some 30 carriers to fold so far this year.
The SAS Group posted a third-quarter pre-tax loss of 1.78 billion
kronor (231 million dollars) compared to a pre-tax profit of 457
million kronor in the corresponding business period of 2007.