All SAS articles – Page 6
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NewsDanish government could raise stake in SAS as it backs transformation plan
Denmark’s government has agreed to support Scandinavian carrier SAS through a debt-to-equity conversion, but has also signalled it will invest new capital into the struggling airline and potentially raise its shareholding. The Danish finance ministry says the government will support the ‘SAS Forward’ restructuring programme for the carrier, following a ...
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NewsSweden to convert SAS debt but refrains from injecting new capital
Sweden’s government is proposing that it be authorised to enter a debt-to-equity swap to provide financial assistance to flag-carrier SAS. But it will not supply fresh capital to the struggling airline. Swedish trade and industry minister Karl-Petter Thorwaldsson disclosed the proposal on 7 June. It would require the legislature to ...
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NewsSAS seeks widebody fleet relief from lessors as Asian routes stay closed
Scandinavian operator SAS has stressed that it needs to relieve the financial pressure from its long-haul fleet, owing to limitations in its ability to operate to Asian destinations. Chief executive Anko van der Werff, speaking during a second-quarter briefing, said the airline had “too many” widebody aircraft. He says SAS ...
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NewsSAS cuts back summer flight programme to avert ramp-up bottlenecks
SAS is aiming to achieve 80% of pre-crisis capacity deployment during the summer season, although the airline has cut a large number of planned flights in order to ensure stability. The Scandinavian operator says it is experiencing “positive” market development and “strong” ticket sales in the run-up to summer. But ...
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NewsSAS could seek court assistance to help with crucial financial restructuring
Scandinavia’s SAS is prepared to utilise court-based restructuring proceedings in order to assist with resolving its financial problems and help push through parts of its ambitious ‘SAS Forward’ transformation plan. It is looking to raise at least SKr9.5 billion ($970 million) in fresh equity – expecting to source this from ...
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NewsFlight shaming could hamper sustainability investments: EasyJet chief
Airlines will need to continue to attract passengers and remain profitable if they are to invest in a sustainable future, according to EasyJet chief executive Johan Lundgren.
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NewsSAS struggles to obtain stakeholder backing for crucial transformation
SAS remains downbeat over progress with its ambitious transformation plan, with negotiations to overhaul its cost structure failing to yield any breakthrough. The Scandinavian operator says the ‘SAS Forward’ plan is “entirely dependent” on deleveraging the company and raising “significant amounts” of new equity. It says it needs to the ...
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Airline BusinessAirlines warming to summer demand trend amid cloudy fundamentals
The past week has seen a growing list of airlines offer optimistic outlooks for the coming summer season, despite a lengthy list of challenges faced by the industry – although one chief executive bucked the trend, calling on airlines to “get real” as he outlined a less-than-rosy take on future demand fundamentals.
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NewsSome Air Baltic A220s will be wet-leased to other airlines ‘for foreseeable future’
Latvian carrier Air Baltic will potentially wet-lease a proportion of its Airbus A220-300 fleet to other carriers for a number of years, as its home markets recover from the pandemic and it adjusts its network in response to the Russia-Ukraine war.
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PodcastAirline Business Podcast: Challenging summer capacity ramp-up and the fight for Spirit
Graham and Lewis return to discuss the challenges facing airlines as they ramp-up operations heading into the northern hemisphere summer, notably amid staffing shortages and rising fuel prices. They also take a look at the competition to purchase Spirit Airlines, after JetBlue Airways threw its hat into the ring for ...
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NewsHow Russian airspace restrictions are adding hours to some Europe-Asia flights
Recently introduced airspace restrictions are adding up to seven hours to round-trip flight times between Europe and Asia, according to analysis of Flightradar24 data by Eurocontrol.
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NewsEmirates chief rues lack of A380neo as SAS counterpart says too many widebodies built
The leaders of Emirates Airline and SAS have offered different perspectives on the market for widebodies today, with one citing the growing need for super-sized aircraft to feed busy hubs and the other suggesting too many twin-aisles have been produced over the past decade.
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NewsSAS chief urges airline industry to ‘get real’ as he laments missed consolidation chance
The chief executive of Scandinavian carrier SAS has questioned the narrative that demand for long-haul travel in particular will align with pre-Covid trends and assumptions, as he urged the industry to “get real” about the challenges ahead.
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NewsSAS defers interest payment on securities under restructuring scheme
Scandinavian carrier SAS is to defer interest payments on securities which fall due towards the end of April as part of its latest stabilisation plan. SAS states that it will defer the semi-annual payment of SKr36 million ($3.8 million) for 25 April, as well as the SKr138 million payment for ...
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NewsSAS commercial chief steps down for post in education sector
SAS is losing another senior executive in the space of two weeks, with the decision by chief commercial officer Karl Sandlund to step down. He is set to leave SAS by the beginning of October. His resignation comes two weeks after that of chief financial officer Magnus Ornberg. Sandlund has ...
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NewsSAS runs into early friction during negotiations with pilots
Scandinavian operator SAS’s negotiations with cockpit crew representatives over its latest transformation plan have already encountered friction, with pilot union Svensk Pilotforening walking out of talks barely after they began. SAS has initiated a long-term plan, ‘SAS Forward’, in a bid to generate SKr7.5 billion ($800 million) in cost ...
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NewsSAS recruits ex-Finnair finance chief
Scandinavian operator SAS has named Erno Hilden, formerly with Finnair, as the company’s new chief financial officer. He will succeed Magnus Ornberg who is stepping down from the position this spring. Hilden had served as chief financial officer of Finnair until 2015, and had also been the airline’s chief operating ...
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NewsSAS finance chief to step down as airline strives to transform operation
Scandinavian flag-carrier SAS’s chief financial officer, Magnus Ornberg, is to step down from his position in the next few weeks. Ornberg has chosen to leave the airline in spring, says SAS. He has held the post for less than two years, having joined in autumn 2020, after being recruited from ...
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NewsSAS to put greater focus on leisure in post-pandemic recovery
Scandinavian carrier SAS will put a greater emphasis on the leisure segment as it adjusts its network in line with the emerging post-pandemic market dynamic.
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NewsSAS deepens cost-savings drive under new plan aimed at securing fresh equity
SAS has raised its annual cost-savings target to SKr7.5 billion ($800 million) under a fresh restructuring programme aimed at adapting the carrier to a “changed” market as it bids to prepare the ground to raise fresh equity.