All SAS articles – Page 5
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NewsSAS court filings reveal A320neo sale-and-leaseback
Court papers from SAS’s restructuring process show that the carrier is intending to enter a sale-and-leaseback covering 10 Airbus A320neo twinjets. The agreement involves US lessor Aviation Capital Group and one of SAS’s affiliate entities, Gorm Asset Management. SAS is re-organising its business, including its fleet, under US Chapter 11 ...
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NewsSAS seeks court approval to cut more jets from restructured fleet
Scandinavian carrier SAS is continuing with its fleet restructuring by seeking to cut another pair of leased aircraft. The airline, which is under US Chapter 11 protection, is looking for court permission to shed an Airbus A330-300 and an A321neo. It has identified the A330 in court papers as MSN1660, ...
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Airline BusinessHow far through recovery are European airlines?
A carrier-by-carrier guide to the progress European airlines continued to make in their recovery from the Covid-19 crisis during the past year and a look at how much further they have to go in 2023.
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NewsStar Alliance names interim chief as Goh steps down
Star Alliance has named SAS executive Charlotta Wieland as its interim chief, after the decision by Jeffrey Goh to step down. Wieland is the vice-president for alliances and industry at the Scandinavian carrier. She has served on the Star Alliance management board for six years and is also a member ...
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NewsSAS to launch summer New York flights from Aalborg and Gothenburg
Scandinavian carrier SAS is to begin the first direct services from Gothenburg in west Sweden and Aalborg in Denmark with the USA after announcing summer flights from both cities to Newark airport next year.
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NewsSAS veteran Hansen steps down as chief operating officer
Scandinavian carrier SAS’s chief operating officer, Simon Pauck Hansen, is stepping down from his position. Hansen first joined the company as a trainee in 1996. He has served in several senior roles including vice-president of network and planning. Hansen says the decision to leave has been “very difficult”, but adds ...
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NewsSAS expects SKr9.5bn equity raise to slip to end-January
Scandinavia’s SAS expects to commence its crucial SKr9.5 billion ($907 million) equity raise around the end of January, after the schedule for its ‘SAS Forward’ restructuring programme slipped. The airline is re-organising under US Chapter 11 protection and expects to exit the process in the second half of next year, ...
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NewsSAS progresses with restructuring but full-year losses remain heavy
Scandinavian operator SAS is aiming to complete its court-supervised restructuring process in the second half of next year, as it releases its first full-year figures since entering US Chapter 11 protection. Its Chapter 11 process is intended to enable the airline to progress with its extensive ‘SAS Forward’ restructuring programme. ...
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NewsSAS to open JFK link to complement Newark operation
Scandinavian operator SAS is to open a new connection to New York JFK, from its hub in the Danish capital Copenhagen. The Star Alliance carrier – which is currently restructuring under US Chapter 11 protection – says the route will open early next year. SAS will serve the sector five-times ...
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NewsSAS renegotiates leases with Bocomm on a batch of long-haul aircraft
Scandinavian carrier SAS’s restructuring of leasing agreements has advanced further with renegotiated terms covering another lessor. The latest agreement, reached as part of SAS’s US Chapter 11 re-organisation, covers three long-haul aircraft. SAS has concluded the deal with Bocomm, it states. Filings with the US bankruptcy court on 15 November ...
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NewsSAS seals renegotiated fleet leases with more lessors
Scandinavian operator SAS has secured additional agreements with lessors to change the terms of lease contracts as part of its restructuring programme. SAS is operating under US Chapter 11 bankruptcy protection, and the court is overseeing progress with the carrier’s ‘SAS Forward’ re-organisation initiative. The restructuring crucially requires amendments to ...
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Airline BusinessEuropean airline summer fades with clouds still on supply and demand horizon
After a summer in which travel demand was everything European carriers could have dreamt of, accompanied by nightmare operational challenges, attention is turning to what extent both trends might reappear next year
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NewsSAS secures new leasing terms for 36 aircraft
Ten lessors have agreed to amend the lease terms of 36 aircraft within the fleet of Scandinavian carrier SAS, as part of the airline’s efforts to restructure. Leasing arrangements have been a particular focus of the ‘SAS Forward’ restructuring plan drawn up by the carrier, which is under US Chapter ...
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NewsSAS lays out financial forecast with return to profit in 2024
Scandinavian carrier SAS is expecting full-year adjusted pre-tax losses of SKr8 billion ($720 million) for 2021-22, and a further SKr4-5 billion loss for 2022-23. But it is forecasting a pre-tax profit the following year, 2023-24, and expects this to reach SKr3-4 billion in fiscal 2025-26. SAS believes revenues will return ...
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NewsSAS seeks approval for sale-and-leaseback of A320neos
Scandinavian carrier SAS is seeking court approval to proceed with a sale-and-leaseback transaction covering six Airbus A320neo jets to be delivered before the end of this year. The aircraft are the subject of a provisional agreement with Griffin Global Asset Management. SAS is progressing with a fleet re-organisation, under US ...
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NewsSAS obtains court approval for bridge financing
Scandinavia’s SAS has obtained court approval for the $700 million bridge financing agreed with funding firm Apollo Global Management. SAS, which is restructuring under US Chapter 11 protection, had disclosed on 14 August that it had secured the provision agreement for debtor-in-possession financing. The company says the court approval for ...
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NewsSAS seek court approval of ‘essential’ pilot labour and restructuring support deals
Scandinavian operator SAS is seeking court authorisation to enter the new collective labour agreements it reached with pilots following cockpit crews’ industrial action. SAS filed for US Chapter 11 protection on 5 July, the day after a pilot strike started, and reached an agreement with four crew unions which ended ...
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NewsSAS seeks to shed A350s and A330s as part of fleet-restructuring plan
Two Airbus A350-900s and three A330-300s are among 10 additional aircraft that SAS is seeking to shed from its fleet, as part of a restructuring under US Chapter 11 protection. The company has submitted a 3 September court filing aiming to reject 10 leased aircraft – including five twin-aisle and ...
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NewsSAS partly blames pilot strike as third-quarter loss nears SKr2bn
Scandinavian operator SAS has turned in a near-SKr2 billion ($187 million) pre-tax loss for the third quarter, covering the initial summer period, partly attributed to a two-week pilot strike. Pre-tax losses for the nine months to 31 July totalled more than SKr6.1 billion for the company, which has been under ...
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NewsSAS unsecured creditors to study Apollo bridge-funding proposal
Representatives of SAS’s unsecured creditors are studying the bridge funding proposal from financing firm Apollo, which is intended to support the carrier’s restructuring under Chapter 11 protection. The official committee of unsecured creditors says it is focused on ensuring that proposed financing terms are “fair” and do not unfairly prejudice ...