September 30, 2022
SAS Looks to Shrink Fleet Under Restructuring
Airlines Industry

SAS Looks to Shrink Fleet Under 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).

SAS Boeing 737-705 (LN-TUM). Photo: Alberto Cucini/Airways

Cornerstone of Restructuring


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.”

SAS currently has eight A330-300s in service. Photo: Mateo Skinner/Airways

“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

editor
Writer, aviation fanatic, and Airways European Deputy Editor, Lee is a plant geek and part-time Flight Attendant for a UK-based airline. Based in Liverpool, United Kingdom.

You cannot copy content of this page

X

SPIN TO WIN!

  • Get a discount coupon valid for our magazine subscription plans!
  • One (1) spin per email.
Try Your Luck!
Never
Remind later
No thanks