SAS Scandinavian Airlines has secured an agreement with its Danish pilots’ union, the last labor accord it needed to obtain a loan that will help save it from bankruptcy.
The new Danish pilots’ collective agreement was the last of eight union accords SAS scrambled to conclude so that it could meet the requirements of an SEK3.5 billion ($515 million) revolving credit facility from banks and core shareholders (ATWDaily News, Nov. 19).
SAS Scandinavian Airlines has secured an agreement with its Danish pilots’ union, the last labor accord it needed to obtain a loan that will help save it from bankruptcy. The new Danish pilots’ collective agreement was the last of eight union accords SAS scrambled to conclude so that it could meet the requirements of an SEK3.5 billion ($515 million) revolving credit facility from banks and core shareholders (ATWDaily News, Nov. 19). The loan now only requires parliamentary ...
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