SAS has reached an agreement with one additional lessor, Bocomm, representing three aircraft, to amend the terms of existing aircraft and equipment lease agreements. Including SAS’ previously announced amended agreements with lessors on October 5 and on November 1, 2022, SAS has now reached agreements with 13 lessors, representing 46 aircraft, as part of the chapter 11 process. This constitutes another important step in re-configuring the fleet and achieving the SEK 7.5 billion (£603 million) in annual cost savings under the SAS FORWARD plan. The new amended lease agreements are subject to approval by the U.S. Bankruptcy Court for the Southern District of New York and to the plan of reorganisation in the chapter 11 process.
On November 1, 2022, SAS announced that it had reached agreements with 12 lessors, representing in aggregate 43 aircraft, to amend the terms of existing aircraft and equipment lease agreements. As at the commencement of SAS’ chapter 11 process on July 5, 2022, SAS had a total of 83 aircraft subject to operating leases, debt financings, or other similar arrangements.