SAS AB and Unionen Reach Agreement-DJ

Dow Jones reported that Unionen, the union representing the cabin crew at SAS AB, has reached agreement with the Company over contract changes that will lead to changes in working conditions for members, but has rejected the airline's calls for wage cuts. November 18, 2012, was SAS's deadline for the Company's employees to accept a cost-savings plan, which included about 800 job cuts and salary reductions of up to 17% that it had said was crucial for the airline's survival. Unionen said in a statement on November 19, 2012 that it had agreed to new measures, including scrapping a wage increase plan for 2013 and 2014, and raising the retirement age to 65, amongst others.