All data is delayed
See More

No headway in SAS talks

Nov 18 2012 12:47
Stockholm - The troubled Scandinvian airline SAS says negotiations between owners and unions have so far failed to yield an agreement that could save the troubled carrier from bankruptcy.

Owners and creditors of the tri-nation SAS have drafted a programme to slash costs and jobs, but the plan needs the approval from pilot and cabin crew unions.

The airline said Sunday talks over the past week were "intense" and would continue in the hope of reaching an agreement before a key board of director meeting scheduled later on Sunday.

SAS managers are hoping to renegotiate employment terms and pensions for its staff and slash about 800 jobs as part of a $440m annual saving plan. Thousands of other jobs would be outsourced.



Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote