Why Recessions Forge Great CEOs Who Think Beyond Cost-Cutting
04/15/2025
No Comments
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
July 6, 2022: -On Tuesday, SAS filed for bankruptcy in the United States, the Scandinavian airline said, warning strike action by pilots is impacting its financial position and liquidity.
On Monday, Salary talks between SAS and its pilots tumbled, triggering a strike that added to travel chaos across Europe as the peak summer vacation period began.
The company said it would continue serving its customers throughout bankruptcy, although the pilot strike moved its flight schedule.
It said the purpose of the filing is to accelerate a restructuring plan announced in February.
“To proceed with the implementation of key elements of the plan, SAS and certain of its associates have willingly filed for chapter 11 in the U.S., a legal process for financial restructuring conducted under U.S. federal court supervision,” it said.
SAS needs to attract recent investors and has said that to do that, it must slash costs across the company, including staff and leased planes that stand idle because of finished Russian airspace and a slow recovery in Asia.
On Tuesday, the airline said it assessed that it has sufficient liquidity to meet its business obligations in the near term.
It added, however, that the strike “harms the liquidity and financial position of the company and, if long, like impact, could become material.”
Nordnet analyst Per Hansen said the application showed SAS needs a fresh start and that it believes the strike will haul on.
“Chapter 11 security comes early,” he said. “Management and the board want to clarify for all stakeholders that the situation is dire.”
During the pandemic, several airlines, such as LATAM and Philippine Airlines, filed for Chapter 11 safety in the United States. Philippine Airlines has exited, while LATAM anticipates exiting in the second half of this year.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
The leadership landscape is profoundly changing, influenced by technological advancements, shifting workforce expectations, and the need for adaptability in an unpredictable global environment.
In the fast-paced business world, corporate leaders often find themselves at the crossroads of risk and reward, where bold decisions …
April 23, 2025: The Canadian government has introduced new legislation to regulate the use of artificial intelligence in education and healthcare, focusing on accountability,
April 17, 2025: Prime Minister Justin Trudeau s government is under growing political pressure over its current immigration strategy.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
April 15, 2025: Multiple wildfires burning across northern and central Alberta have triggered large-scale evacuations.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
