All SAS articles
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NewsDenmark and Sweden up SAS stakes to 22% in recapitalisation
The Danish and Swedish governments have each agreed to increase their stakes in SAS to 21.8% under the Scandinavian carrier’s SKr14.25 billion ($1.62 billion) recapitalisation plan, which has now been finalised. SAS obtained approval from both governments in August for its revised recapitalisation plan, which was originally ...
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News
Braathen to launch new Norwegian airline
A team led by experienced industry executive Erik Braathen is planning to launch an airline in Norway that reflects “the new economic reality”.
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News
Crew’s late escape from icing preceded serious ATR 72 upset
Norwegian investigators have disclosed that an ATR 72-600 suffered a serious loss of control, with excessive wing bank, as its crew belatedly attempted to escape from icing conditions during a domestic Bergen-Alesund service. The inquiry into the incident – involving a Jet Time flight for SAS on 14 November ...
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Analysis
Winter of disconnect ahead for Europe’s airlines
There are few crumbs of comfort for European airlines as they look back on a worse-than-expected summer season and forward to what could be a bleak winter.
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News
SAS impairs older fleet as it pushes back Airbus deliveries
SAS has pushed back deliveries of two Airbus A350-900s and eight A320neos, which will reduce the Scandinavian operator’s capital expenditure for 2021-24. But the company insists it is “still committed” to achieving an all-Airbus fleet by 2023, to reduce fuel consumption and maintenance costs. “We have made progress ...
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News
SAS obtains government backing after rejigging recapitalisation
Scandinavian operator SAS has obtained support from the Swedish and Danish governments, as well as its third major shareholder, for a revision to its recapitalisation plan. The plan was originally disclosed on 30 June and covered SKr14.25 billion of equity. SAS says the revision focuses on specific financial ...
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News
SAS details extensive make-or-break recapitalisation plan
Scandinavian operator SAS has detailed a recapitalisation programme intended to run alongside its revised business plan and the implementation of broad efficiency measures. It says the Swedish and Danish governments, along with its third-largest shareholder – the Wallenberg Foundation – are supporting the plan, through which SAS aims to ...
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News
Swedish and Danish governments back SAS recapitalisation
Sweden’s and Denmark’s governments are backing a capital increase for Scandinavian carrier SAS, which is seeking around SKr12.5 billion ($1.33 billion) in support funding. The Swedish government has submitted a proposal to the country’s parliament for support amounting to SKr5 billion, says SAS. It adds that the Danish ...
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News
SAS to operate most initial flights from Copenhagen
Scandinavian carrier SAS will resume services on 21 short-haul routes this month, operating the majority of them from Copenhagen.
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News
SAS pushes A320neo deliveries to 2024
SAS has agreed with Airbus to delay delivery of four A320neos and is in talks with the airframer on further deferrals as the Scandinavian carrier prepares for a slow recovery in traffic after the coronavirus crisis.
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News
SAS to defer Airbus deliveries as it overhauls business plan
Scandinavia’s SAS is to defer and review future Airbus deliveries and those from lessors, as part of its response to the coronavirus crisis, as it continues to pursue additional funding. The airline is drawing up a revised business plan which aims to bring SKr4 billion ($417 million) in improvements ...
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News
SAS finalises $335 million state-backed credit facility
Scandinavian carrier SAS has signed an agreement for a SKr3.3 billion ($335 million) three-year revolving credit facility which is 90% guaranteed by the Swedish and Danish governments.
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News
SAS initiates work on cutting up to 5,000 jobs
Scandinavian carrier SAS has begun work on cutting up to 5,000 full-time positions from its future workforce as it warns it is likely to take “some years” before air travel demand returns to pre-crisis levels. SAS will hold talks with unions over the proposed cuts, which will apply to ...
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News
SAS details staff cuts and warns it may need more state aid
Scandinavian carrier SAS has temporarily laid off 11,000 employees and will make 120 positions in Sweden permanently redundant, and is warning that the state support it is set to receive “will not suffice” if the coronavirus crisis persists.
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News
SAS in line to benefit as Sweden approves credit guarantees
Sweden’s national legislature has rapidly approved a proposal to issue credit guarantees of up to SKr5 billion ($488 million) to airlines, of which SKr1.5 billion will be allocated to SAS. Under the agreement the state will guarantee commercial loans to airlines affected by the coronavirus crisis. “The matter ...
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News
Norwegian offered largest share of airline state guarantee package
Norway’s government is providing a conditional state loan guarantee for its aviation industry amounting to NKr6 billion ($533 million), and is securing a minimum level of flight operations in the country. Half of the funding, NKr3 billion, will be directed at embattled budget operator Norwegian, with another NKr1.5 billion ...
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News
SAS halts most services over 'non-existent' air market
Scandinavian operator SAS is to suspend most of its operations, after declaring the demand for international air travel to be “essentially non-existent”. It will temporarily reduce its workforce by 90% – some 10,000 personnel – while the crisis situation persists. SAS says the traffic will be restored when ...
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News
SAS pulls full-year financial guidance amid coronavirus uncertainty
Scandinavian carrier SAS has withdrawn its full-year financial guidance amid uncertainty around the impact on air travel demand of the coronavirus outbreak.
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News
SAS edges towards regional fleet renewal with Danish crew deal
Scandinavia’s SAS has outlined the preconditions for placing an order to renew the mid-sized fleet of single-aisle jets serving its regional network. It says that some 20% of its network uses Airbus A319s and Boeing 737-700s and that using aircraft of the appropriate size is important for both financial ...
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News
SAS to deepen cuts after ‘unsatisfactory’ 2019 result
Scandinavian airline SAS has stepped up cost-saving measures after delivering a full-year result its chief executive Rickard Gustafson describes as “unsatisfactory”.
