All SAS articles
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News
SAS chief: SkyTeam will ‘unlock’ network benefits previously unavailable in Star Alliance
Accession to the SkyTeam alliance will provide Scandinavian operator SAS with greater network reach in various ways, chief executive Anko van der Werff believes. Speaking during a first-quarter briefing, he said SAS had enjoyed a good relationship with Star Alliance, of which it was a founder member. “We equally have ...
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News
SAS maintains full-year expectations after busy first quarter
SAS is maintaining its financial forecast for the full year 2023-24, as well as the timetable for its emergence from US Chapter 11 bankruptcy protection. It has turned in a pre-tax loss of just under SKr1.1 billion ($107 million) for its fiscal first quarter – the three months to 31 ...
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News
SAS chief looks to SkyTeam gains to outweigh ‘emotionally difficult’ Star Alliance exit
The chief executive of Scandinavian carrier SAS, Anko van der Werff, acknowledges that leaving Star Alliance – which it co-founded – is an emotionally difficult decision, but believes the potential for tighter co-operation with partners within SkyTeam provides greater opportunities.
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News
SAS looks to re-introduce A350 previously shed during fleet restructuring
Scandinavian operator SAS is seeking to re-introduce an Airbus A350-900, the lease of which it had previously rejected as part of its fleet restructuring plan.
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News
Unsecured SAS creditors accepted revised Chapter 11 plan after ‘hard-fought’ discussions
Unsecured creditors of SAS had been dissatisfied with a previous version of the carrier’s US Chapter 11 re-organisation plan, and agreed to the latest revision after “hard-fought” discussions, court filings show.
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News
SAS puts eventual potential return for unsecured creditors at 20-25%
Scandinavian operator SAS is expecting around $325 million to be allocated to general unsecured creditors – including holders of commercial hybrid bonds in parent company SAS AB – through its US Chapter 11 restructuring process.
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Newsletter
Regulators in no mood to wave through airline M&A activity
While it quickly became apparent that January 2024 would be remembered as an inauspicious start to the year for airline safety, from the mid-point of the month onwards it was clear that the same would be said regarding consolidation.
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News
SAS revises revenue and profit projections as it nears Chapter 11 exit
Scandinavian carrier SAS’s latest version of its restructuring plan projects that it will achieve revenues of SKr48.1 billion ($4.6 billion) in the current fiscal year, and a net loss of SKr882 million.
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News
SAS to open transatlantic service to SkyTeam hub Atlanta
Star Alliance carrier SAS is to open a new transatlantic service to Atlanta, a key hub for rival alliance SkyTeam which the airline is set to join. It will start serving Atlanta from Copenhagen on 17 June. The carrier’s reservations system indicates it will use Airbus A330-300s on the route. ...
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News
SAS to reduce ‘complex’ mainline wet-leasing arrangements next year
SAS is looking to cut back on the number of wet-lease agreements it has entered, in order to simplify its operation as it emerges from US Chapter 11 protection. The airline’s full-year financials show that wet-lease expenditure increased substantially, to SKr2.6 billion ($250 million), compared with pre-crisis figures of around ...
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News
Improved SAS commercial performance 'cloaked' by fuel and currency effects
Scandinavian carrier SAS has turned in a full-year operating loss of SKr2.7 billion ($260 million) and net loss of SKr5.7 billion, as it enters the final stages of its restructuring programme under US Chapter 11 protection. Revenues for the year reached SKr42 billion, as passenger numbers rose by one-third to ...
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News
US Court approves SAS’ investment agreement with Castlelake consortium
A US court has approved Scandinavian operator SAS’ entry into a formal investment agreement with Castlelake, Air France-KLM, the Danish government and financing company Lind Invest.
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Analysis
Can European airline group consolidation aims come to fruition?
Consolidation is very much in the air for the three big European airline groups, all of whom are in the process of trying to get acquisitions done and with the prospect of a move for TAP Air Portugal still in the offing.
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News
SAS to replace debtor-in-possession finance pact as it enters investment agreement
Scandinavian operator SAS has entered a formal investment agreement with a Castlelake and Air France-KLM consortium, and will replace its debtor-in-possession financing from Apollo with a new arrangement with Castlelake. SAS is under US Chapter 11 bankruptcy protection and restructuring through implementation of its ‘SAS Forward’ programme. As part of ...
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News
Air France-KLM foresees ‘biggest benefits’ from SAS joining transatlantic JV
Air France-KLM sees SAS’s eventual membership of its transatlantic joint venture as the “biggest benefit” from its investment in the carrier, arguing that the Scandinavian operator has been “held back” from from fully capitalising on its strengths.
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News
Restructuring SAS to enter codeshare with Abu Dhabi’s Etihad Airways
Scandinavian operator SAS is entering a codeshare agreement with Middle Eastern carrier Etihad Airways, following Etihad’s opening of a Copenhagen route. The codeshare will take full effect from the end of December. SAS is undergoing a corporate restructuring, known as ‘SAS Forward’, and is currently under US Chapter 11 bankruptcy ...
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News
SAS agrees sale-and-lease of A320neo pair and looks to retain A330
Scandinavian operator SAS is intending to enter a sale-and-leaseback agreement covering a pair of Airbus A320neo twinjets. The airline is under US Chapter 11 protection as it implements a restructuring process, known as ‘SAS Forward’, of which the fleet re-organisation is a key part. It has set out details of ...
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Podcast
Airline Business Podcast: SAS stakes, sustainability and sweet spots
Graham and Lewis discuss the latest consolidation moves in Europe, as Air France-KLM announces plans to take a minority stake in SAS.
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News
SAS and financer Apollo clash over rescue consortium’s expense-repayment deadline
SAS has obtained a favourable court ruling to shorten a notice period for a hearing on repayment of expenses, in relation to its recent equity-solicitation process, despite objections from a key financial participant in the carrier’s restructuring.
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Analysis
European consolidation wave spreads north with Air France-KLM move for SAS
Consolidation within Europe post-pandemic has largely focused on opportunities for the big three airline groups to bolster their presence in the south of the continent.