SAS close to union agreement as talks continue

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SAS Group has signed new agreements with seven of the eight unions with which it has been negotiating to secure the conditions to implement a crucial new cost-cutting plan.

The Scandinavian company, which has spent a week trying to convince unions to sign up for the 4XNG plan, had been hoping to conclude talks by 18 November.

Without identifying the outstanding union, SAS says that negotiations "continue".

SAS requires the union agreements to access a new revolving credit facility being provided by its lenders and shareholders.