Research Paper (undergraduate) from the year 2012 in the subject Business economics - Business Management, Corporate Governance, grade: 74%, University of Greenwich (Business), course: Strategic Management, language: English, abstract: Scandinavian airlines, SAS, was founded as a consortium of the national airlines of Denmark, Sweden and Norway in 1946, to operate international flights. SAS has been the first airline to fly a route from Copenhagen over the arctic pole to Tokyo in Japan (www.staralliance.com). However, in 1981 the company have had two years of losses in a row after a long period of positive net profits (Ghoshal, 1988). This essay will examine the change of strategy causing a turnaround that made them profitable again.