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SAS AB Updates on Plan to Improve Profitability and Secure Revolving Credit Facility

Monday, 19 Nov 2012 02:45am EST 

SAS AB announced that on November 12, 2012 the Board of the Company approved the 4 Excellence Next Generation (4XNG) plan to address the issues facing SAS. The 4XNG plan will improve EBT by approximately SEK 3 billion 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 SEK 3.5 billion revolving credit facility is signed union agreements. This condition has not been fully reached, but seven out of eight unions have signed new agreements. Negotiations continue and the Company will publish additional information as soon as it is available. 

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