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SAS: Negotiations with Trade Unions Ended without Conclusion

Dépèche transmise le 6 juillet 2009 par Business Wire

STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:

The negotiations between the SAS Group (STO:SAS) (OSE:SASNOK) management and the SAS trade unions have today ended without conclusion. The negotiations had been initiated with a short deadline set before the summer considering the extensive crisis that the airline industry is currently in. Despite certain progress, no agreement was achieved with the Group’s 39 trade unions. Group management and the SAS board will now concentrate on identifying other means and actions to reduce costs for SAS.

“We have made certain progress in the last two weeks, but have not been able to reach an agreement that provide long-term or substantial cost reductions, without the agreements being linked to impossible conditions or met with counter demands. This unfortunately means that we have not reached the necessary cost savings. Group management will now together with the board immediately focus on finding other means and actions to lower our costs,” says Mats Jansson, President and CEO of SAS Group.

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