P.M. BRIEFING : Sabena Notes $36-Million Loss
The Belgian national airline Sabena today said it had suffered an operating loss of more than $36 million in 1989.
Announcing the results before the group’s annual stockholders meeting, Sabena Chairman Carlos Van Rafelghem said: “We won’t be able to go on living through such situations.”
Sabena, British Airways and Dutch KLM last year set up Sabena World Airways. BA and KLM each have 20% stakes in the new operating company.
The company’s senior vice president, Gerard Spinnox, said the outlook for 1990 is not good, saying the airline could be heading for an overall loss of $42.8 million for the year.
Rafelghem said Sabena’s flight operations had been “marginal” for the year. He said the company may have to “disinvest” in the coming year.
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