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 ...

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