sweden - based airline scandinavian airlines management ( sas ) said it will reduce payrolls by 8 , 600 , as part of its " core sas " redevelopment plan . the restructuring will replace 3 , 000 staff simultaneously and eliminate 5 , 600 by divesting business ventures , decreasing the workforce by 40 % to 14 , 000 . the restructuring comes after hughes posting losses of 6 . 32 millions swedish krona in 2008 . the subsidiary is also to sell airbaltic and spanair and its investments in air greenland , bmi , estonian air , skyways express , scandinavian airlines and trust . spanair is to be sold for €1 . the company is to switch to centred on its core nordic market .
European Airlines are cutting jobs.