Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

SAS pilots support wage deal, won't resume strike

Stock Markets Aug 06, 2022 03:50AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: SAS aircraft is parked on the ground during a pilot strike at Copenhagen Airport, Denmark July 18, 2022. Ritzau Scanpix/Liselotte Sabroe via REUTERS 2/2

By Anna Ringstrom and Jacob Gronholt-Pedersen

STOCKHOLM (Reuters) -Swedish, Danish and Norwegian pilot union members have voted to adopt a collective bargaining agreement reached with airline SAS last month, and will thus not resume their strike, the labour unions said on Saturday.

SAS grounded some 3,700 flights during a crippling 15-day strike in July.

In Denmark, 93% of pilot union members voted in favour of the deal.

"I am incredibly happy about the great support for the agreement, not least when we have been through such a long and tough conflict," said Henrik Thyregod, chairman of the Danish pilots union.

"The members have clearly understood the gravity (of the situation) and this shows how strong the unity is among the pilots," he said.

Unions in Norway and Sweden said a majority of their members also backed the deal, but did not immediately disclose how many had voted in favour.

Long-struggling SAS, which filed for U.S. bankruptcy protection on the second day of the strike, has estimated the industrial action cost it more than $145 million during what is normally the profitable peak summer travel season.

The deal entails lower wages and longer hours for the pilots but also a commitment from SAS, whose biggest owners are the governments of Sweden and Denmark, to rehire pilots laid off during the pandemic.

The new collective bargaining deal between SAS and unions also needs approval by a U.S. court handling creditors' interests in the Chapter 11 process.

Under the agreement, pilots were given a guarantee that SAS will not set up new subsidiaries on different terms than what has now been agreed, Dansk Metal, the union representing Danish pilots, said in a statement.

SAS, which was already loss-making before the pandemic due to rising competition from low-cost carriers, has said it needs to slash costs further and raise more capital in order to survive.

While the Swedish government has rejected the company's plea for more cash, Denmark says it might inject fresh funds if SAS also finds support from private-sector investors.

SAS pilots support wage deal, won't resume strike
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email