SAS Reaches Agreement with Employees

SAS reports that they have now reached an agreement with employees about changes that will make SAS more profitable.

- It lays a good foundation for the future operation of the SAS, says Norwegian Minister of Trade and Industry Trond Giske. 

Board and Management of SAS proposed a road plan to create a profitable company on 12 november. In this connection, the Norwegian government gave its support to implement the plan. A major assumption has been implementing cost-cutting measures for three billion Swedish kroner saving annually.

- The measures are challenging for the employees and the effort of the staff to secure their jobs is appreciated. Agreement with employees that facilitates increased productivity and lower unit costs is an important part of the plan, said Giske.

Subject to Parliamentary approval, there is now right for the Norwegian state along with the other state owners in Sweden and Denmark, seven private banks and KAW Foundation makes available a renewed credit facility of 3.5 billion Swedish kroner to SAS. Norway’s share is 500 million SEK. Before this implementation, confirmation was required from an independent party about signing of the new collective agreements.

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