New union agreements signed with 7 of 8 unions- negotiations continues
On November 12 the Board of SAS approved the 4 Excellence Next Generation (4XNG) plan to address the issues facing SAS. The 4XNG plan will improve EBT by approximately 3 bn SEK on an annualized basis and improve the overall cost flexibility. One of the conditions to implement the plan and for the availability of the new 3.5 Bn SEK revolving credit facility is signed union agreements.
This condition has not yet been fully reached, but 7 out of 8 unions have signed new agreements.
Negotiations continue and SAS will publish additional information as soon as it is available.
SAS Group Investor Relations
SAS is publishing this information in accordance with the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act and corresponding Danish and Norwegian legislation. This information was submitted for publication on November 19, 2012 at 08.45 CET.