SAS halts majority of flights and temporarily lays off 90% of staff
Scandinavian Airlines (SAS) has temporarily halted all of its flights on Monday, 16 Mar, until the conditions for commercial flights improve following the drastic drop in demand.
Due to the coronavirus (COVID-19) outbreak, airlines around the globe have reduced the number of flights they offer in the wake of US travel restrictions on European passengers.
On Sunday, 15 Mar, SAS said it would temporarily lay off approximately 10,000 employees which are around 90% of its workforce due to almost non-existent demand for flights to, within, or out of Scandinavia.
Still, over the past few years, SAS has worked to improve the financial stability of the company and, thus, have built financial preparedness and good liquidity. Therefore, the airline can take the financial hit amid this global health crisis.