SAS Reaches Agreements to Amend the Terms of Existing Aircraft and Equipment Lease Agreements
SAS AB (“SAS” or the “Company”) announces that it has reached agreements with 10 lessors, representing in aggregate 36 aircraft, to amend the terms of existing aircraft and equipment lease agreements. The agreements constitute an important step in reconfiguring the fleet and achieving the SEK 7.5 billion in annual cost savings under the SAS FORWARD plan. The amended lease agreements are subject to approval by the U.S. Bankruptcy Court for the Southern District of New York (the “Court”), and to the plan of reorganization in the chapter 11 process becoming effective.The amended lease