SHARE
COPY LINK

SAS

Sweden and Denmark step in with multibillion rescue package for SAS

Sweden has unveiled a plan to help Scandinavian airline SAS weather the impact of the coronavirus crisis – and Denmark is also set to contribute.

Sweden and Denmark step in with multibillion rescue package for SAS
SAS has like many airlines been hit hard by the coronavirus. Photo: Fredrik Sandberg/TT

Sweden unveiled Monday a plan to recapitalise struggling Scandinavian airline SAS, which said Denmark was also planning to the plan to help it weather the effects of the coronavirus crisis.

Sweden's Industry Minister Ibrahim Baylan said the government was willing to inject up to 5 billion kronor (474 million euros, $534 million).

The project requires approval from lawmakers.

SAS said in a statement that the Danish government would also contribute to the recapitalisation but did not provide a figure.

In its statement, SAS said it estimates its funding needs some 12.5 billion kronor and plans to provide more details about the recapitalisation and related measures by the end of the month.

Like many airlines, SAS has been hit hard as the impact from the coronavirus pandemic has wiped out demand for air travel.

In mid-March, the airline furloughed 90 percent of its staff and in late April SAS announced it was laying off 5,000 staff, accounting for about 40 percent of the company's workforce.

Sweden and Denmark, SAS' two largest shareholders, have already stepped in to help the airline. At the beginning of May they agreed to provide a 90 percent guarantee for a revolving credit facility of 3.3 billion kronor so the airline would have more access to cash.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

TRAVEL NEWS

Covid face mask rule on flights in Europe set to be eased

The mandatory EU-wide mask requirement for air travel is set to be dropped from Monday, May 16th, but airlines may still require passengers to wear masks on some or all flights

Covid face mask rule on flights in Europe set to be eased

Europe-wide facemask rules on flights are set to be ditched as early as next week in light of new recommendations from health and air safety experts.

The European Union Aviation Safety Agency (EASA) and European Centre for Disease Prevention and Control (ECDC) dropped recommendations for mandatory mask-wearing in airports and during flights in updated Covid-19 safety measures for travel issued on Wednesday, May 11th.

The new rules are expected to be rolled out from Monday, May 16th, but airlines may still continue to require the wearing of masks on some or all of flights. And the updated health safety measures still say that wearing a face mask remains one of the best ways to protect against the transmission of the virus.

The joint EASA/ECDC statement reminded travellers that masks may still be required on flights to destinations in certain countries that still require the wearing of masks on public transport and in transport hubs.

It also recommends that vulnerable passengers should continue to wear a face mask regardless of the rules, ideally an FFP2/N95/KN95 type mask which offers a higher level of protection than a standard surgical mask.

“From next week, face masks will no longer need to be mandatory in air travel in all cases, broadly aligning with the changing requirements of national authorities across Europe for public transport,” EASA executive director Patrick Ky said in the statement. 

“For passengers and air crews, this is a big step forward in the normalisation of air travel. Passengers should however behave responsibly and respect the choices of others around them. And a passenger who is coughing and sneezing should strongly consider wearing a face mask, for the reassurance of those seated nearby.”  

ECDC director Andrea Ammon added: “The development and continuous updates to the Aviation Health Safety Protocol in light of the ongoing Covid-19 pandemic have given travellers and aviation personnel better knowledge of the risks of transmission of SARS-CoV-2 and its variants. 

“While risks do remain, we have seen that non-pharmaceutical interventions and vaccines have allowed our lives to begin to return to normal. 

“While mandatory mask-wearing in all situations is no longer recommended, it is important to be mindful that together with physical distancing and good hand hygiene it is one of the best methods of reducing transmission. 

“The rules and requirements of departure and destination states should be respected and applied consistently, and travel operators should take care to inform passengers of any required measures in a timely manner.”

SHOW COMMENTS