Belgian flag-carrier Sabena has launched its 'Blue Sky' cost-cutting operation, aimed at restoring profitability by 2003. Sabena lost BFr3.5 billion ($75 million) in the first six months, and given lower yields, rising fuel costs and the strong dollar could end the year with a BFr7.5 billion loss, the biggest in its history. Blue Sky aims to cut costs by BF14.4 next year, the bulk coming from restructuring and the rest from "social measures", with staff to be reduced by 500. Measures already announced include route cuts and aircraft and real estate sales.
Source: Flight International
