In view of the losses reported in 2009, SAS, the Scandinavian airline group has decided to issue new shares to raise its capital and cut 700 jobs.

SAS lost 1.3 billion kronor, in the fourth quarter, last year.

Stockholm - The SAS Group, the operator of the joint carrier Scandinavian Airlines, on Tuesday posted a pre-tax loss of 403 million kronor (48 million dollars) in the last quarter of 2008 and said it planned further job cuts.

The fourth-quarter loss compares with a pre-tax profit of 57 million kronor in the final quarter of 2007.

WNS (Holdings) Limited, a leading provider of global business process outsourcing (BPO) services, has signed a six-year contract with SAS Airlines, the largest airline company in Scandinavia.