SAS tweaks leases for 36 aircraft to cut costs
Crisis-hit airline SAS said on Wednesday it had reached agreements with 10 of its lessors representing 36 aircraft to amend the terms of existing lease contracts. The Scandinavian carrier said in a statement the tweaked agreements constituted an important step in reconfiguring its fleet and achieving a plan to save 7.5b Swedish crowns ($690m) annually by 2026. "Through the amended lease agreements, SAS is well on track in achieving the targeted annual cost savings of at least 850m Swedish crowns to 1.0b in reduced aircraft lease and capital costs," it said. Long-struggling SAS, ravaged by the pandemic and pressured by low-cost rivals, sought bankruptcy protection in the United States in July. It has said reducing costs for unused leased planes has been a key component of its savings plan. It said on Wednesday it intended to continue negotiations with some of its other lessors.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2022-10-06/star/sas-tweaks-leases-for-36-aircraft-to-cut-costs
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SAS tweaks leases for 36 aircraft to cut costs
Crisis-hit airline SAS said on Wednesday it had reached agreements with 10 of its lessors representing 36 aircraft to amend the terms of existing lease contracts. The Scandinavian carrier said in a statement the tweaked agreements constituted an important step in reconfiguring its fleet and achieving a plan to save 7.5b Swedish crowns ($690m) annually by 2026. "Through the amended lease agreements, SAS is well on track in achieving the targeted annual cost savings of at least 850m Swedish crowns to 1.0b in reduced aircraft lease and capital costs," it said. Long-struggling SAS, ravaged by the pandemic and pressured by low-cost rivals, sought bankruptcy protection in the United States in July. It has said reducing costs for unused leased planes has been a key component of its savings plan. It said on Wednesday it intended to continue negotiations with some of its other lessors.<br/>
