SAS Group has narrowly escaped insolvency, after reaching agreements with eight of its unions over deep cost cuts. The deals vary by employee group, but Norwegian pilots are accepting a 10% wage cut plus 8% more flying hours and flight attendants are surrendering two weeks of vacation per annum while their pay is frozen. The cuts were a prerequisite for SAS to receive another loan by a consortium of shareholders and banks. A Swedish minister says efforts to sell the Swedish government's ...

THIS CONTENT REQUIRES SUBSCRIPTION ACCESS

You must be a paid subscriber to access "SAS Rescued".

 

Current Aviation Week Intelligence Network (AWIN) enterprise and individual members: please go to http://awin.aviationweek.com for access.

 

Not currently a subscriber? Click on the "Learn More" button below to view subscription offers.

Already registered? here.