All SAS articles – Page 2
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NewsSAS switching from Star Alliance to SkyTeam at end of August
Scandinavian carrier SAS is to leave Star Alliance for SkyTeam at the end of August, following the recapitalisation by a consortium which includes SkyTeam partner Air France-KLM.
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NewsSAS’s parent company formally seeks Swedish re-organisation
Scandinavian carrier SAS’s parent company, SAS AB, has formally filed for re-organisation in Sweden, a measure previously indicated during SAS’s proceedings under US Chapter 11 protection. Successful completion of this re-organisation is a condition for the airline’s Chapter 11 plan, which recently secured US bankruptcy court approval. The company requires ...
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NewsSAS expects network disruption as batch of A320neos undergoes component checks
Scandinavian carrier SAS is temporarily withdrawing several Airbus A320neo jets from service while it carries out checks on a specific component on the type. The airline says it needs to inspect pressure regulator transmitters on 18 A320neos. SAS states that this “requires pausing operations with these aircraft”, and admits that ...
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NewsSAS secures US court approval for plan to emerge from Chapter 11
Scandinavian operator SAS has obtained US court approval for its re-organisation plan, keeping it on track for potentially emerging from Chapter 11 bankruptcy protection at the end of the first half of this year. More than 99% of the company’s creditors that voted on the plan supported it. SAS filed ...
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NewsSAS 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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NewsSAS 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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NewsSAS 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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NewsSAS 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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NewsUnsecured 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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NewsSAS 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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Airline BusinessRegulators 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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NewsSAS 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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NewsSAS 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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NewsSAS 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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NewsImproved 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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NewsUS 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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Airline BusinessCan 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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NewsSAS 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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NewsAir 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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NewsRestructuring 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 ...