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SAS secures austerity deal from unions


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SAS secures austerity deal from unions

Managers at the Scandinavian airline SAS have secured agreement from the final union over severe cost-cutting plans to avoid bankruptcy.
 
SAS said the Danish cabin-crew had followed seven other airline unions who had already agreed a deal on wage cuts, changes to working hours and pensions.
 
Salaries are to be cut by up to 17 per cent and the payroll will tumble from 15,000 to 9,000.
 
SAS is up against stiff competition from Ryanair and Norwegian Air Shuttle, which both have lower operating costs.
 
The union deal was central to securing 400-million euros in credit.

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