SAS readying for takeover

BTN News

Thursday, 10 June 2010

Scandinavia's SAS Group says it is going to focus on building a war chest that will make it an attractive takeover target.

"The goal now is to create cash and pay our investments with fresh cash flow from our operations," the company said.

SAS began a US$966 million cost-cutting plan in February 2009. The carrier says it is 65 to 70 per cent through the plan.