SAS, the largest Scandinavian airline, will cease freighter business. Lufthansa cuts cargo capacity 10%, reduces worker hours.

Scandinavian Airlines (www.flysas.com) saw its revenues rise by 5.1% year over year in 2008, but it experienced an overall decline of $789 million that it attributed to high fuel prices and the poor world economy, among other reasons. Its new strategy, called Core SAS, not only calls for the reduction in cargo operations, but divesting itself of non-core companies and 3,000 employee layoffs, as well as a reduction of 5,600 workers due to divesting itself of businesses and outsourcing some operations.

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