SAS Looks to Shrink Fleet Under Restructuring
SAS-Scandinavian Airlines (SK) is looking to offload several A350/A330s as part of its restructuring.
SAS-Scandinavian Airlines (SK) is looking to offload several A350/A330s as part of its restructuring.
DALLAS - Scandinavian Airlines (SK), or SAS for short, is seeking to offload several of its wide-bodied Airbus jets as it pushes on with its cost-cutting plan.
SAS has chosen two Airbus A350-900s (SE-RSB and SE-RSC) and three A330-300s (LN-RKS, LN-RKU and LN-RKT) to be returned to their lessors.
It also hopes to hand back three Airbus A320neos (EI-SIF, SE-ROD and SE-ROC), plus a single A321 (OY-KBL) and Boeing 737-700 (SE-RET).
The move forms part of the carriers restructuring program known as 'SAS FORWARD.' CEO Anko van der Werff said, "The cornerstone of the SAS FORWARD plan is a redesigned aircraft fleet."
A hearing for the Charter 11 bankruptcy protection filing will be held imminently. Under the filing, the airline stated that the "excess leased equipment" was unneeded for its "operations and a successful reorganization plans." It also claimed that several lease agreements were "significantly above market."
"While the Debtors sought various concessions from aircraft lessors prior to the Commencement Date, including amending existing leases on mark-to-market terms and returning aircraft, the Debtors were unable to achieve the level of concessions needed to successfully implement SAS FORWARD," it added.
SAS currently has a fleet of over 100 aircraft, 20 of which are owned directly by the airline. It launched its SAS FORWARD Plan in February 2022 following its weaker-than-expected financial performance. It hopes the plan will ensure the airlines has a sustainable economic future.
Featured Image: The airline is seeking to return a pair of its A350-900s. Photo: Miles Aronovitz/Airways
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