Showing posts with label SAS. Show all posts
Showing posts with label SAS. Show all posts

Wednesday 6 December 2023

ACG deliver the 6th of 10 Airbus jets to SAS

Aviation Capital Group, one of the world’s premier full-service aircraft asset managers with over 490 owned, managed and committed aircraft as of September 30, 2023, leased to roughly 90 airlines in approximately 45 countries, has just confirmed the delivery of one new Airbus A320neo to SAS.

The jet aircraft is on long-term lease to Scandinavian Airlines and is powered by CFM International LEAP-1A engines. This is the sixth of ten aircraft scheduled to be delivered to the airline as part of a multiple-aircraft sale-leaseback transaction between ACG and SAS.

Tuesday 28 November 2023

Aviation Capital Group delivers an Airbus A320neo to SAS

Aviation Capital Group LLC announced the delivery of one new Airbus A320neo aircraft on long-term lease to Scandinavian Airlines. This new jet is powered by CFM International LEAP-1A engines, this is the fifth of ten aircraft scheduled to be delivered to the airline as part of a multiple-aircraft sale-leaseback transaction between ACG and SAS.


Aviation Capital Group is one of the world’s premier full-service aircraft asset managers with over 490 owned, managed and committed aircraft as of September 30, 2023, leased to roughly 90 airlines in approximately 45 countries. It was founded in 1989 and is a wholly owned subsidiary of Tokyo Century Corporation. 


Wednesday 11 October 2023

SAS names Mads Brandstrup as new Senior Vice President Communications and Public Affairs

Mads Brandstrup will assume the role of SVP Communications and Public Affairs at SAS, Scandinavia’s largest airline. In this role, he will work closely with CEO Anko van der Werff and oversee SAS' comprehensive communication initiatives both internally and externally. Mads Brandstrup will report directly to SAS' Executive Vice President and Chief of Staff, Carina Malmgren Heander. He will start on January 1, 2024.

"We are very pleased with the recruitment of Mads Brandstrup. His extensive leadership experience gained from senior communication roles closely integrated with senior leadership teams will make a big contribution to SAS", says Carina Malmgren Heander, Executive Vice President and Chief of Staff of SAS.

Mads Brandstrup brings with him a wealth of experience, having served as the CEO of the Danish Media Association since 2021. Prior to this role, he held key positions such as Special Advisor to the Danish Minister of Finance and Head of Press and Communication for the Danish Social Democratic Party.

"I am grateful for the opportunity to continue advancing SAS' communication efforts during this pivotal moment in the aviation industry and for SAS. With my background from both journalism, communication, and public affairs, I am eager to leverage my experience to add value to the team and SAS", says Mads Brandstrup

Mads Brandstrup replaces Karin Nyman, who is moving on to new challenges outside of SAS.

Thursday 5 October 2023

Air France-KLM to team up with SAS through equity and commercial cooperation

Air France-KLM to team up with SAS AB through equity and commercial cooperation

Air France-KLM to take up to a maximum 19.9% non-controlling stake in the share capital of the reorganized SAS AB, subject to approvals and conditions.

Air France-KLM ambitions to enhance the Group’s footprint in Scandinavian markets through a commercial cooperation between its airlines and SAS AB.


Air France-KLM welcomes the announcement by SAS AB’s Board of Directors that the Air France-KLM Group, Castlelake, L.P., on behalf of certain funds or affiliates, and Lind Invest ApS (collectively, the “Consortium”) have, together, been selected as the winning bidder in SAS’s exit financing solicitation process.

Benjamin Smith, CEO of Air France-KLM stated: “This is an important day for SAS and for Air France-KLM. We are pleased to be part of the winning bidding consortium selected by the board of SAS. Air France-KLM looks forward to establishing strong commercial ties with SAS. With its well-established position in Scandinavia and strong brand, SAS offers tremendous potential to Air France-KLM. This cooperation will allow Air France-KLM to enhance its position in the Nordics and improve connectivity for Scandinavian and European travelers. We look forward to being a part of this new chapter in SAS’ history and thank the board of SAS for their trust.”

As previously expressed, Air France-KLM is determined to play an active role in the consolidation of European aviation. The envisaged cooperation with SAS is one of the components of the Group’s strategic roadmap.

The Consortium’s investment proposal remains to be finalized and is subject to certain conditions and regulatory approvals including, but not limited to, approval by the European Commission, the US court overseeing the Chapter 11 reorganization and, in respect of SAS AB, the Swedish court.

SAS reaches major milestone in SAS FORWARD – announces the winning consortium, including details of the transaction structure

SAS has reached a major milestone in its ongoing chapter 11 process in the U.S. and has selected Castlelake, L.P., on behalf of certain funds or affiliates, Air France-KLM and Lind Invest ApS (“Lind Invest”), together with the Danish state as the winning bidder consortium in its exit financing solicitation process. The agreed transaction structure includes a total investment in the reorganized SAS corresponding to USD 1,175 million (SEK 12.925 billion[1]), including USD 475 million (SEK 5.225 billion) in new unlisted equity and USD 700 million (SEK 7.7 billion) in secured convertible debt, as well as a USD 500 million (SEK 5.5 billion) refinancing by Castlelake of SAS’ current debtor-in-possession (“DIP”) term loan. As part of the transaction, SAS is intended to eventually join the SkyTeam Alliance (“SkyTeam”), of which Air France-KLM is a founding member, and exit the Star Alliance, subject to any relevant approvals and emergence from the Chapter 11 process.

The details and final documentation for the agreed transaction structure remain to be finalized between the Investors and SAS. The transaction will also need to be approved as part of SAS’ Chapter 11 plan of reorganization (the “Chapter 11 Plan”). The confirmation and effectiveness of the Chapter 11 Plan remain subject to various conditions precedent, including approval by the U.S. Bankruptcy Court for the Southern District of New York (the “U.S. Court”), which will require the solicitation of votes on the Chapter 11 Plan from certain creditors, approvals from various regulatory authorities and the completion of a Swedish company reorganization (as described below). No approval is expected to be required from the existing shareholders of SAS AB for the transaction.

SAS will continue to operate and serve its customers as usual throughout the implementation of the transaction, which is likely to entail a filing by SAS AB (i.e., the listed parent company for the SAS group) for a company reorganization in Sweden (Sw. företagsrekonstruktion) (the “Swedish Reorganization”) in 2024. As a result of that process, all of SAS AB’s common shares and listed commercial hybrid bonds are expected to be cancelled, redeemed and delisted (currently expected to occur during the second quarter of 2024). Consequently, no value is expected for existing shareholders in SAS AB and only a modest recovery is expected for the holders of commercial hybrid bonds.

Saturday 30 September 2023

The last Boeing 737 flight for SAS set for 19th November.


“To move from the old to the new is the only tradition worth keeping”. These words were written by the founder of Scanadian Airlines Wallenberg, and are as valid today as they were back in 1946 when the company started. 

The Boeing 737 has served the airline well over the years since it was first introduced to the fleet, but now the carrier says it’s time to say goodbye to this iconic plane. As part of the airline's move to newer, next-generation, more efficient aircraft, which SAS has been phasing in for the last few years, it also sees the upcoming retirement of older fuel-hungry jets. 

On 19 November, Dag Viking will complete the final commercial Boeing 737 flight for SAS. It happens under flight number SK737, on a memorable trip from Stockholm to its home base in Oslo.



Tuesday 5 September 2023

SAS names Ginger Hughes as new Chief Transformation Officer and Paul Verhagen as new Chief Commercial Officer.


SAS appoints Ginger Hughes as Chief Transformation Officer. Hughes brings a lot of experience from her advisory role at Seabury, where she has guided SAS through the Chapter 11 process for over a year.

“With a remarkable three-decade-long career advising airlines worldwide, Ginger Hughes has been instrumental in shaping strategic transformations, restructuring endeavours, aircraft procurement and financing, cost optimization strategies, loyalty programs, and alliance initiatives. Ginger will be instrumental in driving SAS transformation journey successfully forward and it’s with great pleasure I welcome her onboard”, says SAS President & CEO, Anko van der Werff.

Hughes assumed her role on September 1st 2023.


"As I step into this role, I am humbled by the legacy of this airline. It’s with great anticipation and pleasure, I embrace the responsibility to drive SAS successfully through this very important transformational journey, and I look forward to being part of SAS soaring to new horizons of success”, says Ginger Hughes.

SAS is also announcing the appointment of Dutch native Paul Verhagen as new Chief Commercial Officer. Paul brings with him 25 years of executive experience in the airline and hospitality industries, having worked in 11 different countries across Europe, the Americas, the Caribbean, and Asia. Paul’s diverse commercial leadership positions include serving as the Deputy Chief Executive Officer at Iberojet Airlines, as well as holding the role of Senior Vice President of Global Sales Strategy & Channels at Aeromexico. Paul also comes with previous Scandinavian experience as he was Regional Director for Norway, Finland & the Baltic States at Air France KLM.

Verhagen assumed his role on August 14th, 2023.


“We are thrilled to welcome Paul to the SAS family. With his extensive global aviation industry experience and diverse commercial leadership background, he brings a wealth of knowledge and Paul's addition to the executive management team will undoubtedly be a pivotal factor in propelling SAS to new heights of competitiveness on the global airline stage,” says Anko van der Werff

In his new position, Paul will be responsible for sales across all channels, brand, customer communication and product and loyalty under one organization. This holistic approach aligns with SAS's commitment to foster growth and drive profitability.

"It's an immense honour to be part of an airline with such a rich legacy and promising future. SAS's journey resonates with me deeply, and I am committed to contributing to its strategic priorities, from remaining Scandinavia's preferred airline to championing cost competitiveness and sustainability leadership,” says Paul Verhagen.

Sunday 3 September 2023

Aviation Capital Group delivers a new Airbus A320neo to SAS


Aviation Capital Group LLC has announced the delivery of one new Airbus A320neo aircraft on long-term lease to Scandinavian Airlines (“SAS”). Featuring CFM International LEAP-1A engines, this is the fourth of ten aircraft scheduled to deliver to the airline as part of a multiple-aircraft sale-leaseback transaction between ACG and SAS.

Aviation Capital Group is one of the world’s premier full-service aircraft asset managers with over 480 owned, managed and committed aircraft as of June 30, 2023, leased to roughly 90 airlines in approximately 45 countries. It was founded in 1989 and is a wholly owned subsidiary of Tokyo Century Corporation.

Tuesday 8 August 2023

2.4 million passengers travelled with SAS in July

2.4 million passengers travelled with SAS in July, the highest monthly passenger figure since before the pandemic. The number of passengers increased with 82 percent compared to the same month last year, which was negatively impacted by the pilot strike. SAS’ capacity increased by 84 percent and RPK by 92 percent, compared to the same month last year. The flown load factor was 86 percent during the month.

“The summer season continued with another busy month for SAS. 2.4 million passengers travelled with SAS in July, the highest passenger figure since before the pandemic. We are pleased to see the positive trend for passenger demand, with continued booking strength throughout the month of July”, says Anko van der Werff, President & CEO of SAS.

SAS total traffic (scheduled and charter)Jul23Change1Nov22- Jul23Change1
ASK (Mill.)4,87284.1%30,14827.3%
RPK (Mill.)4,17792.1%22,89242.4%
Load factor85.7%3.5 pp75.9%8.1 pp
No. of passengers (000)2,41582.3%16,89439.5%

1 Change compared to same period last year, pp = percentage points

Geographical development, scheduleJul23           vs.          Jul22Nov22-Jul23   vs.   Nov21-Jul22
RPKASKRPKASK
Intercontinental145.9%161.2%67.6%41.1%
Europe/Intrascandinavia73.5%69.3%35.9%24.9%
Domestic118.6%88.2%26.9%16.3%

Preliminary yield and PASKJul23Nominal change1FX adjusted change
Yield, SEK1.03-1.6%-5.5%
PASK, SEK0.870.1%-3.8%
Jul23
Punctuality (arrival 15 min)62.6%
Regularity97.5%
Change in total COemissions35.6%
Change in COemissions per available seat kilometre1.9%
Carbon offsetting of passenger-related emissions34.6%

Definitions:
RPK – Revenue passenger kilometres
ASK – Available seat kilometres
Load factor – RPK/ASK
Yield – Passenger revenues/RPK (scheduled)
PASK – Passenger revenues/ASK (scheduled)
Change in COemissions per available seat kilometres – SAS passenger-related carbon emissions divided with total available seat kilometres (incl non-revenue and EuroBonus tickets), rolling 12 months vs rolling 12 months previous year
Carbon offsetting of passenger-related emissions – Share of SAS passenger-related carbon emissions compensated by SAS (EuroBonus members, youth tickets and SAS' staff travel) during the month

From fiscal year 2020 we report change in CO2 emissions in total and per Available Seat Kilometers (ASK) to align with our overall goal to reduce our total CO2 emissions by 25% by 2025, compared to 2005.

Monday 12 June 2023

May was a busy month for SAS

2.2 million passengers travelled with SAS in May, an increase by 19% compared to the same period last year. SAS’ capacity increased 17% RPK increased by 26 percent, compared to the same period last year. The flown load factor for May was 77 percent, an improvement by almost 6 percentage points compared to May last year.  

“We are pleased to see that the demand for travel continues to increase. 2.2 million passengers travelled with SAS in May, up 19 percent compared to the same month last year. We have ramped up to meet the increased demand for the summer season, and we look forward to welcoming our passengers on board. Over the past couple of months, Air Traffic Control capacity issues in Copenhagen have caused considerable problems for airlines, airports and, not the least, our passengers. We expect all parties to take their responsibility and make sure our passengers can travel where they want and when they want this summer. We will seek compensation for the irregularity costs caused by the situation”, says Anko van der Werff, President & CEO of SAS.

Thursday 1 June 2023

Scandinavian Airlines get a new Airbus A320neo.

Aviation Capital Group, a global leader in aircraft management and leasing have confirmed the delivery of one new Airbus A320neo aircraft on long-term lease to Scandinavian Airlines - SAS.

The jet is powered by CFM International LEAP-1A engines and is the third of ten aircraft ACG is scheduled to deliver to the airline as part of a multiple-aircraft sale-leaseback deal between SAS and ACG. 

Wednesday 31 May 2023

Tickets for first-ever commercial electric flight in Sweden, Norway, and Denmark go on sale tomorrow........

Scandinavian Airline System is set to open reservations tomorrow for the first-ever commercial electric flight in Sweden, Norway, and Denmark.

On 2 June at 12:00 CEST SAS will open reservations for those very first commercial electric flights with 30 seats available on each of the three inaugural flights - one in each country. These special flights are expected to take place during the course of 2028. 

The ticket price for the inaugural flight will be SEK 1946 – a tribute to the year when SAS first started flying.   So for around £144 you can be one of the first people to travel on an electrically powered aircraft in Scandinavia. Of course, at this stage, you won't know how long the flight is, or where it will go or indeed how far. As electric aviation technology is constantly evolving at an ever-increasing speed, SAS say it will advise on destination and duration much closer to the flight date sometime in 2028.

A start-up that also marks the beginning of SAS’ innovative nature, with then-founder Wallenberg stating that “Moving from the old to the new is the only tradition worth preserving”.  SAS' goal is net-zero emissions by 2050. An important part of achieving this goal is to develop and use technological innovations such as electric aircraft on shorter trips.  


For more info, visit the special SAS electric page




SAS haven't confirmed what type of aircraft it will be as they say they have a number of ongoing projects, however,  it is very likely to be the Heart Aerospace ES-30 as illustrated in the images. 


ES-30 Tech Specs from Heart Aerospace. 
Capacity                   30 passengers (typical)

Range                       200 km all electric
                                 400 km electric+hybrid
                                 800 km electric+hybrid 25pax

Propulsion               4 electric motors

Energy source          Batteries (primary)   Reserve-Hybrid Turbogenerators

Max altitude             20,000 ft

Runway length        1,100 m

Turn around time    30 min (fast charge)

Enter into service  2028


Videos from Heart Aerospace. 

Thursday 13 April 2023

SAS Traffic figures – March 2023

The number of passengers travelling with SAS amounted to 1.9 million in March, an increase by 33 percent compared to the same period last year. SAS’ passenger demand continued its positive trend with RPK increasing by 38 percent while capacity increased by 25 percent, compared to the same period last year. The flown load factor for March was 76 percent, an improvement by 7 percentage points compared to March last year.

“Passenger demand continues its positive trend. In March, 1.9 million passengers traveled with us, up 33 percent compared to the same month last year. Our flown load factor continues to improve and reached 76 percent in March. During the month, we added ten additional routes and more frequencies for the upcoming summer and autumn. We are preparing for a busy summer season with in total 30 new routes added to the summer traffic program,” says Anko van der Werff, President & CEO of SAS.

Tuesday 11 April 2023

Vaasa Airport celebrates the return of SAS as weekly flights to Stockholm resumed


Scandinavian Airlines has reinstated a flight connection between Vaasa and Stockholm after a break of three years. 

SAS resumed its regular scheduled flights early last week from Vaasa Airport to Stockholm Arlanda Airport. The airline operates three flights a week from Vaasa to Stockholm at the moment and will increase to five weekly flights later. 


“We are very happy that the route from Vaasa to Stockholm has been reopened. The connection between these two Nordic cities is an important part of Finavia airports’ growing route network,” says Petri Vuori , Finavia's Senior Vice President, Sales and Route Development.

The long-awaited first flight was celebrated at Vaasa Airport in sunny weather. In addition to Finavia's representatives, the opening was witnessed by Tomas Häyry, Mayor of Vaasa, and Niko Ek, SAS's Head of Sales Europe, among others.  “Good to be back! SAS has returned to Vaasa after a three-year wait. This is a great day and the welcome has been very warm. The return of the route is truly the result of co-operation. There is a very strong demand for the Vaasa–Stockholm route, and it enables good connections from around the world to Vaasa and from Vaasa to the world,” Niko Ek said in his opening speech.

The Stockholm route provides passengers with a number of smooth connections to Scandinavia and around Europe.

SAS operates the Vaasa–Stockholm connection with its CRJ-900 jet aircraft, which can accommodate 90 passengers. The estimated flight time is 45 minutes.


Tuesday 4 April 2023

SAS makes it easier to select biofuel tickets......

On April 3rd, SAS, Scandinavia’s leading airline, with main hubs in Copenhagen, Oslo and Stockholm launched two ticket types that include biofuel. These will be available on all SAS domestic, Scandinavian and European flights.   

SAS aims to use fossil-free aviation fuel equivalent of all our domestic flights by 2030, a journey we make together with our passengers. We are, therefore, making it even easier for our travellers to be part of the journey toward more sustainable air travel by launching tickets that include the maximum allowed amount of biofuel.

Travellers buying Go Smart or Plus Pro tickets will be able to purchase these tickets with approximately 50%* of biofuel included to lower the CO₂ emission of their SAS flight.

Sunday 2 April 2023

Aviation Capital Group delivers a new Airbus A320neo to SAS


Aircraft leasing giant - Aviation Capital Group has confirmed the delivery of one new Airbus A320neo aircraft on long-term lease to SAS Scandinavian Airlines. This aircraft is powered by CFM International LEAP-1A engines and is the second of ten aircraft scheduled to deliver to the airline as part of a multiple-aircraft sale-leaseback transaction between ACG and SAS.

Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with approximately 470 owned, managed and committed aircraft as of December 31, 2022, which are leased to approximately 95 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.

With summer just around the corner, SAS continues to ramp up by offering customers an additional 10 European routes as well as adding frequencies to popular Mediterranean destinations such as Alicante, Malaga, Mallorca, Split and Sicily. These additional destinations come on top of 20 new, previously announced routes.

SAS continues to plan for a busy summer to Italy with up to seven daily flights from Scandinavia to Milan and more flights from Copenhagen to Florence and Naples. SAS is adding more domestic flights from Oslo to Bergen, Stavanger, Trondheim and Ålesund as well as more flights from Copenhagen to Ålesund. More seats and flights are also offered between Stockholm and Helsinki.

“We are delighted to welcome our passengers back and seeing the desire to travel continuing to rise. SAS is increasing capacity this summer, adding more routes and additional flights to popular destinations. We are also glad to return to beautiful Tokyo with three weekly flights in June and to launch our new routes to Newark,” says Erik Westman, EVP Network and Revenue Management.




Source  Business Wire / SAS

Saturday 25 March 2023

SAS files monthly operating reports with U.S. court and announces certain financial information for the Group

As part of its voluntary chapter 11 process in the U.S. SAS is required to release monthly reports containing certain financial information for the period of November 1, 2022, to February 28, 2023.

In connection with these Court filings, SAS announces the following information.  

Financial Information, SAS Group million SEK (million USD)1)
November 1, 2022 – February 28, 2023
Revenue 10,372 (998)
Net income for the period -3,601 (-347)
As of February 28, 2023
Total assets 55,472 (5,339)
Total liabilities 58,858 (5,665)
Cash and cash equivalents 5,311 (511)
1) Amounts in SEK have been recalculated to USD based on the Swedish Riksbank’s SEK/USD exchange rate of 10.3904 as of February 28, 2023.




Thursday 16 March 2023

SAS adding 10 more routes....

To meet the increasing demand for travel, SAS adds yet another 10 routes and more frequencies for the upcoming summer and autumn. Starting in June, SAS also resumes traffic to Tokyo.

With summer just around the corner, SAS continues to ramp up by offering customers an additional 10 European routes as well as adding frequencies to popular Mediterranean destinations such as Alicante, Malaga, Mallorca, Split and Sicily. These additional destinations come on top of 20 new, previously announced routes.

SAS continues to plan for a busy summer to Italy with up to seven daily flights from Scandinavia to Milan and more flights from Copenhagen to Florence and Naples. SAS is adding more domestic flights from Oslo to Bergen, Stavanger, Trondheim and Ålesund as well as more flights from Copenhagen to Ålesund. More seats and flights are also offered between Stockholm and Helsinki.

“We are delighted to welcome our passengers back and seeing the desire to travel continuing to rise. SAS is increasing capacity this summer, adding more routes and additional flights to popular destinations. We are also glad to return to beautiful Tokyo with three weekly flights in June and to launch our new routes to Newark,” says Erik Westman, EVP Network and Revenue Management.

Continuing to grow presence in the US, SAS starts operating flights from Gothenburg and Aalborg to Newark, New York with an Airbus A321LR.

As of June, SAS resumes traffic to Haneda, Tokyo three times a week. Prior to that SAS will operate several flights to Tokyo in April to accommodate for the high demand around Easter. The route will be operated by Airbus A350 aircraft.

During spring, SAS also adds a third weekly service on Copenhagen-Shanghai. 

SAS’ aircraft fleet includes some of the most environmentally friendly aircraft on the market with significantly lower emissions and less noise than previous-generation aircraft – as demonstrated by both the Airbus A350 and A321LR on long-haul routes, and Airbus A320neo on short-haul where emissions are reduced between 15% and 30%.

Wednesday 8 March 2023

Aviation Capital Group Announces Delivery of One A320neo to SAS


Aviation Capital Group announced the delivery of one new Airbus A320neo aircraft on long-term lease to Scandinavian Airlines. Featuring CFM International LEAP-1A engines, this is the first of ten aircraft scheduled to deliver to the airline as part of a multiple-aircraft sale-leaseback transaction between ACG and SAS.

“ACG is honoured to welcome SAS as a renewed strategic partner. We are delighted to support the SAS FORWARD transformation plan with this sale-leaseback transaction for this latest technology and fuel-efficient aircraft,” said Tom Baker, CEO and President of ACG.

“We continue to make progress with our transformation plan and these new sale-leaseback agreements are an important part of that – securing competitive financing for our renewed fleet of modern and fuel-efficient aircraft. We are pleased to renew our long-term strategic partnership with ACG, one of the world’s leading aircraft financing partners,” said Anko van der Werff, President and CEO of SAS.




Wednesday 8 February 2023

1.4 million people flew with SAS in January

Financially troubled Scandinavian airline SAS saw passenger numbers jump 89% during January according to the latest results released by the carrier.   The total number of passengers was 1.4 million as travel demand increased massively although the load factor was just 68%.  

“January traffic came in at 1.4 million passengers, an 89 percent increase compared to January 2022. It is a healthy figure during the winter season when we, due to our usual seasonality, see lower passenger numbers. Our flown load factor of 68 percent exceeds the pre-pandemic level of 65 percent in January 2019. We continue to make progress with SAS FORWARD and our chapter 11 process in the U.S. We recently concluded our aircraft lessor negotiations, and we expect to achieve our targeted cost reductions related to annual aircraft lease and financing costs,” says Anko van der Werff, President & CEO of SAS.