All SAS articles – Page 3
-
NewsRestructuring SAS achieves first profitable quarter in four years
SAS has turned in its first profitable quarter for four years, with a third-quarter pre-tax surplus of SKr457 million ($41.6 million). It also generated a net profit of SKr461 million for the period, the three months to 31 July 2023, as revenues reached SKr13.2 billion. SAS chief executive Anko van ...
-
NewsSAS cleared to sell engineless A321s to US trading firm
Scandinavian carrier SAS has been cleared to proceed with selling a batch of engineless Airbus A321s, for eventual part-out, to a US entity called Spectre Air Capital. SAS is undergoing a corporate restructuring – known as SAS Forward – through a US Chapter 11 bankruptcy process. Spectre had been one ...
-
NewsSwedish consortium to ground test Heart ES-30
Sweden’s Vinnova innovation agency has awarded a consortium led by Heart Aerospace almost SKr20 million ($1.8 million) to build and ground test a full-scale demonstrator of the developer’s hybrid-electric ES-30 regional aircraft.
-
NewsSAS’s pandemic aid to undergo renewed European Commission scrutiny
Scandinavian operator SAS’s recapitalisation by the Swedish and Danish governments, carried out during the pandemic, is to be scrutinised under an in-depth European Commission investigation. Although the measure – worth around SKr11 billion ($1 billion) – was previously approved by the Commission in August 2020, this approval was annulled by ...
-
NewsSAS gives investors more time to prepare equity-injection bids
Scandinavian carrier SAS has revised its timeline for equity solicitation, extending the deadlines for investors by four weeks. SAS, which is restructuring under US Chapter 11 bankruptcy protection, also states that it aims to complete its court-supervised processes around the end of this year. The airline is looking to raise ...
-
Airline BusinessAirline Business performance tracker: Europe Q1 2023
Key data from the most-recent European earnings period – the January-March 2023 quarter – and the equivalent periods stretching back to the last pre-Covid year, powered by Airline Business Insight
-
NewsSAS positive over demand recovery despite persisting losses
Scandinavian carrier SAS turned in a lower pre-tax loss of SKr3.8 billion ($350 million) for the first half of the year, including a SKr1.4 billion loss for the second quarter. While pre-tax losses reduced, SAS’s net loss for the three months to 30 April remained at SKr1.5 billion. SAS raised ...
-
NewsSAS to offer seats on first ES-30 flights but dates and destinations remain unclear
SAS is to offer passengers the chance of reserving seats on its inaugural commercial services of the Heart Aerospace ES-30 hybrid-electric aircraft, despite the milestone being five years away and with most of the important flight details still vague.
-
NewsCourt grants approval for SAS’s equity-raise solicitation
Scandinavian carrier SAS has obtained court approval to commence solicitation procedures to raise equity as part of the airline’s ‘SAS Forward’ restructuring programme. The carrier, which is under US Chapter 11 protection, states that potential investors will have about 13 weeks to present final bids. “We will conduct a competitive ...
-
NewsEU court annuls Lufthansa and SAS state aid approvals after Ryanair complaints
The European General Court has annulled the European Commission’s approval of state aid provided to Lufthansa and SAS during the Covid-19 crisis.
-
NewsSAS reinforces leisure network with new Asian route
Star Alliance carrier SAS is to open a new Asian service, operating to the Thai capital Bangkok from the beginning of the winter season. SAS, which is currently under US Chapter 11 bankruptcy protection, has been undergoing a restructuring programme to strengthen its financial position. It says it is aiming ...
-
NewsSAS 737 pilots could not have foreseen severe turbulence upset: inquiry
Norwegian investigators are reiterating the importance of fastening seat-belts, even if not instructed, after an SAS Boeing 737-800 encountered unexpected severe turbulence which injured cabin crew – one seriously – and a passenger. The aircraft was descending towards Oslo Gardermoen at 21,000ft in clear air, following a service from Stavanger ...
-
NewsSAS defers access to remainder of $700m bridging loan
Scandinavian carrier SAS is deferring its access to the second half of its $700 million debtor-in-possession term loan, after a stronger-than-forecast financial performance over the winter which improved its liquidity position. SAS remains under US Chapter 11 protection, and the debtor-in-possession loan – agreed with Apollo Global Management – provided ...
-
NewsSAS initiates process seeking court approval to raise new equity
Scandinavian carrier SAS has embarked on a planned equity-raising process, the latest stage of its restructuring programme under US Chapter 11 bankruptcy protection. SAS has previously indicated that it wants to raise at least SKr9.5 billion ($911 million) through the process. But it points out: “The final amount of equity ...
-
NewsSAS starts offering European fares with biofuel inclusion
Scandinavian carrier SAS has started selling tickets which automatically include the cost of biofuel purchase for its flights. The airline, which has been offering biofuel as a travel extra, says it is aiming to make biofuel selection “even easier” for passengers. It will enable passengers buying its ‘Go Smart’ or ...
-
Airline BusinessAirline Business performance tracker: Europe Q4 2022
Key data from the most-recent European earnings period – the fourth quarter of 2022 – and the equivalent periods stretching back to the last pre-Covid year, powered by Airline Business Insight
-
NewsSAS recruits BA executive as chief operating officer
Former British Airways chief operating officer Jason Mahoney is to take up an equivalent role at Scandinavian carrier SAS. Mahoney will take up the post at SAS on 1 May, succeeding Simon Pauck Hansen who stepped down in January. While he served as chief operating officer at BA, Mahoney’s most ...
-
NewsOptimistic SAS lifts long-term financial forecast over strong demand
Scandinavian carrier SAS is reviewing long-term financial projections for 2024-26, with preliminary indications that stronger-than-expected demand will generate higher revenues and earnings towards the end of this period. SAS had previously estimated revenues of SKr49 billion ($4.7 billion) for 2026 but believes this figure will be greater, while it is ...
-
NewsPitch-up after tailwind shift led to SAS A320neo tail-strike at Split
Croatian investigators believe a late shift in tailwind preceded an SAS Airbus A320neo’s loss of lift just before touchdown in Split, leading to a tail-strike. The aircraft, arriving from Bergen, had been stabilised during an ILS approach to runway 05. But winds were varying from 170-245°, and a 10kt change ...
-
NewsSAS reassures passengers after cyberattack
Scandinavian carrier SAS is reassuring passengers that there is no risk to their personal data following a cyberattack on the company’s IT systems. The attack occurred on 14 February, the Star Alliance airline states, adding that it was one of several companies to be subjected. Its website and certain other ...