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SAS strikes cost-saving deals with unions

Nov. 19, 2012 at 2:10 PM

STOCKHOLM, Sweden, Nov. 19 (UPI) -- Swedish airline SAS said seven of eight unions had signed contracts designed to keep the airline out of bankruptcy.

Company spokeswoman Eisabeth Manzi said agreements had been reached with cabin crew unions from Sweden and Norway and pilot groups from Sweden, Norway and Denmark.

The Local reported Monday that pilots from Norway accepted a 30 percent cut in pay and that Swedish pilot association President Robert Gustafsson said sacrifices were made "in all areas -- salary, pension and employment."

Swedish cabin crews did not accept a cut in pay, but agreed to forgo salary negotiations for two years and work more hours.

The last holdout as of Monday was the Danish flight staff.

In its effort to avoid bankruptcy, the airline has also increased its line of credit from $459.9 million to $519.3 million.

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