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SAS says talks with trade unions collapse

Mon Jul 6, 2009 7:23am EDT

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STOCKHOLM, July 6 (Reuters) - Scandinavian airline SAS (SAS.ST) said on Monday its negotiations with trade unions had been fruitless and that it would not reach the cost savings it had aimed for.

The airline, half-owned by Sweden, Norway and Denmark, said in a statement it had not reached any agreement with the company's 39 trade unions and would now concentrate on identifying other means and actions to reduce costs.

"We have made certain progress in the last two weeks, but have not been able to reach an agreement that provides long-term or substantial cost reductions, without the agreements being linked to impossible conditions or met with counter demands," the firm said.

"Group management will now together with the board immediately focus on finding other means and actions to lower our costs," it added.



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