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SAS Secures Deals With Two More Lessors To Cut Aircraft Costs

By Dave Simpson

Crisis-hit airline SAS said on Tuesday 1 November it had reached agreements with two more lessors representing seven aircraft in its fleet to amend the terms of existing lease contracts.

Details

The agreements come on top of deals with 10 lessors comprising 37 planes announced on 5 October.

Long-struggling SAS, hit by the pandemic and pressured by low-cost rivals, sought bankruptcy protection in the United States in July.

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The leasing amendments put SAS "well on track" to cutting its annual aircraft lease and capital costs by at least 850 million to 1.0 billion Swedish crowns ($77.3 million-$91.0 million) under its restructuring plan, the carrier said.

Negotiations continue with certain other lessors, it said.

Shares

Shares in the company were up 6% at 1336 GMT on Tuesday 1 November.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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