SAS says 6-day pilot strike cost it $68 million

Scandinavian Airlines says that a six-day pilot strike that led to the cancellation of 4,000 flights and affected more than 370,000 passengers cost 650 million kronor ($68 million).

SAS says that the walkout, which ended May 2 when the sides reached a three-year collective bargaining agreement, "negatively impacted" its second quarter, for which it reported a 1.2-billion kronor ($125 million) loss.

CEO Richard Gustafson says it "added to the challenges already faced by SAS," which include tough competition, increasing fuel prices and a weakening Swedish currency.

Gustafson said Tuesday the result for the three-month period that ended April 30, "is far from satisfying."

The strike started April 26 after talks collapsed between the airline and SAS Pilot Group, which represents 95% of the company's pilots in Sweden, Denmark and Norway.