SAS AB (“SAS” or the “Company”) announces that it has entered into a debtor-in-possession (“DIP”) financing credit agreement for USD 700 million (the equivalent of approximately SEK 7.0 billion) with funds managed by Apollo Global Management (“Apollo”).
SAS has filed for Chapter 11 bankruptcy protection in the United States as a pilot strike compounds the Scandinavian carrier’s financial woes.
The Scandinavian carrier has taken delivery of the first of three A321LR planes on lease from Air Lease Corporation. The plane is powered by CFM Leap-1A engines.
Scandinavian Airlines has said it will cut as many as 5,000 jobs as it seeks to restructure for a post-Covid 19 world. The losses will be split between approximately 1,900 full-time positions in Sweden, 1,300 in Norway and 1,700 in Denmark.
The government of Norway has moved to support the flatlining aviation sector in the country, offering more than US$550 million in bailout funds. Some US$250 million will be directed at embattled budget operator Norwegian.
SAS has launched a slightly odd new ad campaign – ‘We Are Travellers’ - that questions the very origins of Scandinavia. The campaign’s centrepiece is what the airline describes as a “timely, cheeky and warm” reminder of why we travel - and what we bring with us home.
Scandinavian carrier SAS has taken delivery of its first A350-900, becoming the newest operator of the latest generation widebody aircraft. The airline has a total of eight A350-900 aircraft on order and operates a fleet of 68 Airbus aircraft.
The first of three new A321LRs, a narrow-bodied aircraft suited for longer distances, will enter the SAS fleet in September next year. The Airbus A321LR is a narrow-body, single aisle aircraft, specially configured to fly longer distances than a standard A321neo.
For the first time in 21 years, SAS has launched a brand new visual identity and revealed a new design for its aircraft exterior. The new livery is a modern take on classic Scandinavian design.
Travelers flying with SAS can now voluntarily choose to buy biofuel and so as to help reduce climate-affecting CO2 emissions by up to 80 per cent. The new non-profit service aims to pioneer a large-scale and competitive market for biofuel within aviation, in line with SAS’ sustainability strategy.