March 20, 2020 / 9:23 AM / 16 days ago

BRIEF-Swedavia To Implement Action Programme In Order To Address Dramatic Decline In Traffic

March 20 (Reuters) - Swedavia:

* SWEDAVIA TO IMPLEMENT ACTION PROGRAMME IN ORDER TO ADDRESS DRAMATIC DECLINE IN TRAFFIC

* OPERATIONS IN COMPANY WILL BE ADAPTED TO A MINIMAL LEVEL BASED ON MARKET SITUATION, AND AT BIGGER AIRPORTS, OPERATIONS WILL BE CONCENTRATED TEMPORARILY TO CERTAIN SECTIONS

* COMPREHENSIVE REVIEW OF COMPANY’S INVESTMENT PORTFOLIO IS BEING CARRIED OUT.

* ON CORONAVIRUS: DEVELOPMENTS AROUND COVID-19 (CORONAVIRUS) HAVE ACCELERATED, ENTAILING A SHARP DECREASE IN DEMAND FOR FLIGHTS

* DECLINE IN PASSENGER VOLUME HAS BEEN 70 TO 90 PER CENT.

* IN RECENT DAYS, DECLINE IN PASSENGER VOLUME HAS BEEN 70 TO 90 PER CENT

* OPERATIONS IN COMPANY WILL BE SCALED DOWN TO A MINIMUM BASED ON MARKET SITUATION, AND OPERATIONS AT BIGGER AIRPORTS WILL BE CONCENTRATED TEMPORARILY TO CERTAIN PARTS OF AIRPORT

* WILL LAY OFF 1,900 OUT OF A TOTAL OF ABOUT 2,500 EMPLOYEES WITH IMMEDIATE EFFECT AND UNTIL FURTHER NOTICE.

* IN ADDITION, SWEDAVIA IS ALSO GIVING NOTICE THAT ANOTHER 800 EMPLOYEES MAY BE LAID OFF Source text for Eikon: (Gdansk Newsroom)

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