SAS is to cut the number of flights operating from Copenhagen Airport from 44 to 22. Having already significantly scaled back flights due to the Covid-19 pandemic, the airline will reduce from the 44 daily departures from the Danish capital which were offered during the Christmas period, industry media Check-in reports. The company’s acting head of media relations Alexandra Lindgren Kaoukji cited travel restrictions caused by the coronavirus. “The new restrictions naturally mean a further reduction in demand for travel to and from Denmark,” Kaoukji told Check-in. Denmark currently requires all non-resident foreign nationals entering the country to provide a negative Covid-19 test and a valid reason for travel. Airline passengers must document a negative Covid-19 test taken within the last 24 hours at the time their flight departs. Current SAS services out of Copenhagen include flights to Aarhus, Aalborg and 20 other destinations including 15 in Europe, with the remainder in the United States and China. “We now hope that the decisions that have been made to stop the spread of the virus, along with the introduction of vaccines, will soon enable us to see the light at the end of the tunnel and return to normal as soon as possible,” Kaoukji also said.<br/>
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Rickard Gustafson will step down from his position as CE of the Scandinavian airline group SAS in the first half of the year to take the helm at the Swedish bearings maker SKF, the companies said on Monday. Gustafson will replace Alrik Danielson, who is stepping down this year after six years as CE. Gustafson has been CEO at SAS for a decade and also sits on the board of Foundation Asset Management (FAM), SKF’s largest owner. He leaves SAS with the airline industry in crisis due the pandemic. SAS completed a capital increase in late 2020, a year of deep losses.<br/>
A term sheet for Singapore Airlines' first US dollar bond has been circulated by bookrunners for the potential issue, and calls were being held with prospective investors yesterday, according to the document seen by Reuters. The size of the deal will be determined today following briefings with investors in Asia and Europe, two sources with direct knowledge of the matter said. The term sheet showed that the airline has appointed Citigroup as sole global coordinator, along with BofA Securities and HSBC as joint bookrunners for the issue. SIA had in the past carried out debt deals in Singapore dollars rather than US dollars. The deal will not be offered to investors based in the United States, according to the term sheet. "We can confirm that SIA did not have any USD issuance in the past," the airline said. SIA, which counts Singapore investment company Temasek as its biggest stakeholder, has issued US$2.77b in five bond issuances in the past seven years, according to Dealogic.<br/>