All SAS articles – Page 3
-
NewsSAS 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 ...
-
PodcastAirline 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.
-
NewsSAS 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.
-
Airline BusinessEuropean 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.
-
NewsAir France-KLM has potential avenue to becoming controlling SAS shareholder
While Air France-KLM Group would initially have a non-controlling stake in Scandinavia’s SAS, the company has indicated that the investment agreement includes a potential avenue to becoming a controlling shareholder. Air France-KLM’s emergence as a participant in the investment consortium for SAS underlines its strategy to help drive consolidation, and ...
-
NewsSAS to leave Star for SkyTeam after picking Air France-KLM and Castlelake as investors
Scandinavian carrier SAS has identified Air France-KLM, and financial firms Castlelake and Lind Invest – along with the Danish government – as participants in the successful consortium to provide investment under the company’s equity solicitation process. SAS will eventually become a member of the SkyTeam alliance, leaving its position in ...
-
NewsSAS drops Wideroe as handling partner at several Norwegian airports
SAS is dropping regional operator Wideroe’s ground-handling arm from serving the Scandinavian carrier at several Norwegian airports. Wideroe says contracts for six of the 12 airports at which it provides ground services to SAS will be lost from February next year. But these six airports – Trondheim, Stavanger, Bodo, Haugesund, ...
-
NewsSAS pushes back equity-solicitation deadline
Scandinavian carrier SAS is extending by a few days the timeline for potential participants in its equity solicitation process. The new closing date for submission of final bids is 25 September – a delay of one week. SAS had already previously extended the timeframe, pushing it back by a month. ...
-
NewsSAS introducing batch of leased E195s from Azorra
Scandinavian carrier SAS is leasing a batch of Embraer 195 regional jets from Florida-based lessor Azorra Aviation. SAS is undergoing a restructuring programme – known as ‘SAS Forward’ – while under US Chapter 11 bankruptcy protection. Among the various aspects of this programme is an overhaul of the airline’s fleet ...
-
NewsSAS recruits Seabury restructuring specialist as transformation officer
Scandinavian carrier SAS has named strategy and restructuring specialist Ginger Hughes as the company’s new chief transformation officer. SAS filed for US Chapter 11 bankruptcy protection in July last year, in order to undertake its ‘SAS Forward’ restructuring programme. Hughes was previously a senior manager at advisory firm Seabury Group ...
-
Airline BusinessAirline Business performance tracker: Europe Q2 2023
Key data from the most-recent European earnings period – the April-June 2023 quarter – and the equivalent periods stretching back to the last pre-Covid year, powered by Airline Business Insight
-
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 ...