SAS to cut jobs as fuel hits earnings

SAS plans to cut 1,000 administrative jobs and double its cost-savings target as the Nordic airline prepares for rising fuel prices and intensifying competition.

Norwegian Air, a unit of SAS rival Norwegian Air Shuttle, received clearance to operate US routes through Cork and Shannon this month, which will enable the carrier to accelerate its long-haul expansion.

SAS said it’s the only airline in Europe operating with crews based in Scandinavia, where labour costs average €43 an hour, compared with €25 in the EU.