Category Archives: Scandinavian Airlines-SAS

SAS reports a 350% increase in traffic in May

SAS issued this traffic report for May:

During May more than 1.8 million passengers traveled with SAS, an increase of approximately 350% compared to the same month last year. SAS’ capacity increased at the same time by 200% compared with the same period last year. In comparison with last month, the total number of passengers increased with 18% and capacity was increased by 13%. The flown load factor for May was 71%, an improvement of 35 percentage points compared to May last year.

“Our ramp-up continues and I am happy to share we have now also started flying to and from Toronto. Overall ticket sales are positive as we are approaching the summer peak period. However, the whole aviation ecosystem is currently faced with challenges and to minimize the operational risk for summer SAS has made pro-active adjustments to its traffic program. Meanwhile, the crucial work on the necessary transformation of SAS continues”, says Anko van der Werff, President & CEO of SAS.

SAS scheduled traffic May22 Change1 Nov21- May22 Change1
ASK (Mill.) 3,071 184.8% 16,791 164.5%
RPK (Mill.) 2,163 455.6% 10,478 442.3%
Passenger load factor 70.4%         34.3 pp 62.4% 32.0 pp
No. of passengers (000) 1,770 338.0% 8,612 281.2%
Geographical development, schedule May22           vs.          May21 Nov21- May22   vs.   Nov20-May21
RPK ASK RPK ASK
Intercontinental 1,263.0% 155.8% 1,256.6% 153.2%
Europe/Intrascandinavia 526.6% 330.3% 601.0% 345.3%
Domestic 146.9% 73.1% 132.4% 43.7%
SAS charter traffic May22 Change1 Nov21- May22 Change1
ASK (Mill.) 160 48,480.4% 818 2,258.9%
RPK (Mill.) 143 173,758.5% 669 4,891.4%
Load factor 89.4% 64.4 pp 81,7% 43.1 pp
No. of passengers (000) 56 47,949.1% 227 5,994.5%
SAS total traffic (scheduled and charter) May22 Change1 Nov21- May22 Change1
ASK (Mill.) 3,231 199.5% 17,609 175.9%
RPK (Mill.) 2,305 492.2% 11,147 473.0%
Load factor 71.4% 35.3 pp 63.3% 32.8 pp
No. of passengers (000) 1,826 351.7% 8,839 290.6%

1 Change compared to same period last year, p p = percentage points

Preliminary yield and PASK May22 Nominal change1 FX adjusted change
Yield, SEK 1.10 -7.9% -10.4%
PASK, SEK 0.78 79.7% 74.9%
May22
Punctuality (arrival 15 min) 77.5%
Regularity 98.1%
Change in total CO2 emissions 131.9%
Change in CO2 emissions per available seat kilometer, -2.6%
Carbon offsetting of passenger related emissions 44.7%

SAS aircraft photo gallery:

Swedish government to assume SAS debt for equity, will not inject additional capital

SAS is getting a one-time lifeline from the Swedish government. However it will be the last injection.

SAS issued this statement:

Today’s announcement regarding the intention of the Swedish Government to support the conversion of its debt holdings into SAS equity is an important step toward the success of the transformation plan, SAS FORWARD.

The full implementation of SAS FORWARD, including the burden sharing components, will allow SAS to become a competitive player in the European airline industry, thereby attracting the necessary new equity capital to restore its liquidity, deleverage its balance sheet and invest in a new fleet of aircraft.

The Swedish Government has also announced they will not inject additional new capital. SAS wants to express its appreciation of the support that has been given from the Swedish State over the years. During the pandemic, the state support provided was an absolute necessity for the company’s survival.

Since 1946, SAS has been an important part of the Scandinavian infrastructure, connecting Sweden and Scandinavia to the world and the world to Scandinavia. This continues to be SAS’ mission for generations to come.

SAS aircraft photo gallery:

SAS reports a loss in the first quarter as traffic increases

Scandinavian Airlines-SAS has issued this report for the second quarter:

SAS continues the ramp-up and has during the quarter seen the highest number of passengers since the pandemic started. Meanwhile, the work with the necessary transformation plan, SAS FORWARD, continues.

The plan was presented when the Q1 results were released on February 22 and is designed to secure long-term competitiveness. It will allow SAS to effectuate a deleveraging of its balance sheet while substantially improving its liquidity position. In addition to reducing the cost structure and improve efficiencies, SAS is seeking to convert approximately SEK 20 billion of debt and hybrid notes into common equity and will also seek to raise not less than SEK 9.5 billion in new equity capital. The success of the plan depends upon SAS attracting potential new capital from the capital markets and other sources and upon SAS fully achieving the targeted SEK 7.5 billion annual cost reduction by fiscal year 2026.

Earnings before tax ended at negative SEK 1.6 billion for the quarter and the cash balance at the end of the quarter was SEK 8.5 billion.

FEBRUARY 2022–APRIL 2022

  • Revenue: MSEK 7,048 (1,932)
  • Income before tax (EBT): MSEK -1,557 (-2,331)
  • Income before tax and items affecting comparability: MSEK -1,613 (-2,331)
  • Net income for the period: MSEK -1,520 (-2,410)
  • Earnings per common share: SEK -0.21 (-0.35)

SIGNIFICANT EVENTS DURING THE QUARTER

  • SAS presented a comprehensive transformation plan: SAS FORWARD. A successful implementation of the plan will secure long-term competitiveness and improved financial strength
  • The SEK 3,000 million credit facility secured with the main owners in 2021 was drawn
  • Erno Hildén was appointed as Executive Vice President and CFO

SIGNIFICANT EVENTS AFTER THE QUARTER

  • The aftermath of the COVID-19 pandemic has led to most of the airline industry experiencing difficulty in rebuilding operations. This has led to SAS reducing its summer program by 4,000 of a total of 75,000 flights

NOVEMBER 2021–APRIL 2022

  • Revenue: MSEK 12,593 (4,214)
  • Income before tax (EBT): MSEK -4,154 (-4,246)
  • Income before tax and items affecting comparability: MSEK -4,234 (-4,258)
  • Net income for the period: MSEK -3,962 (-4,443)
  • Earnings per common share: SEK -0.55 (-0.63)

QUARTERLY RESULTS ARE IMPROVED AS A RESULT OF RAMP-UP

Looking back at the second quarter, we can see that demand improved as travel restrictions were eased. Passengers flying with SAS increased 28% compared to the previous quarter and the flown load factor reached approximately 67%, up 11 percentage points compared with the earlier quarter. Our capacity was increased by 3% compared to the first quarter. The transformation of SAS has to continue to adapt to the new market conditions in order to be able to remain flexible, competitive and financially strong for the long-term future. Earnings before tax ended at negative SEK 1.6 billion, an improvement of SEK 1.0 billion compared with last quarter, or a SEK 0.7 billion improvement year-on-year. Ticket sales continue to increase ahead of the summer period and SAS is targeting 80% capacity deployment compared to summer 2019.

Cost reductions across all of SAS remain in focus to secure our cost competitiveness. Total operating expenses during the quarter ended at SEK 7.8 billion and total operating revenue landed at SEK 7.0 billion for the quarter. Total revenue increased 27% compared with the first quarter, an improvement of approximately SEK 5.1 billion compared with last year, but still 31% below the second quarter in 2019, which was unaffected by COVID-19.

The cash balance at the end of the quarter was SEK 8.5 billion. At end of the first quarter of FY2022 the cash balance was SEK 3.4 billion. Operational cash flow during the quarter amounted to SEK 2.5 billion, compared with SEK -1.4 billion for the same period last year.

UPDATE ON SAS PROGRESS ON TRANSFORMATION PLAN

Despite this positive development, SAS continues to face substantial structural cost challenges while also facing growing competition with substantially lower cost structures than SAS. SAS also incurred substantial additional debt during the pandemic that added to its pre-COVID highly leveraged balance sheet. In addition, recent macroeconomic changes (including fuel and exchange rates) and geopolitical events are limiting operations and create additional costs. Given these factors, the SAS Board has concluded that a substantial restructuring is needed to enable SAS to become profitable by implementing SAS FORWARD.

Key Elements of SAS FORWARD

  • Reducing the annual costs by SEK 7.5 billion
  • Redesigned fleet, network and product offerings
  • Digital transformation
  • Positioning SAS as the leader in sustainable aviation
  • Operating platform acceleration
  • Strengthening SAS’ balance sheet by deleveraging and raising new capital

Debt-to-equity conversion and equity raise

SAS is seeking to convert approximately SEK 20 billion of existing debt and hybrid notes into common equity, of which a majority is on-balance sheet debt and hybrid instruments (state hybrid notes, commercial hybrid notes, lease liabilities, Swiss bonds and term loans from states and commercial banks) and some relates to maintenance contract obligations and other executory contract obligations. The contemplated conversions are designed to strengthen the balance sheet and significantly reduce the debt-burden being carried in order to relieve SAS from elevated financial costs that currently weigh on profitability, and to position SAS for future growth.

In addition to debt conversions, SAS is looking for alternatives to raise new equity. SAS will seek to raise not less than SEK 9.5 billion in equity capital. The planned SEK 9.5 billion or more equity raise is expected to provide sufficient liquidity to fund operations through the full implementation of SAS FORWARD and the recovery in passenger demand post COVID-19. It is currently expected that a significant share of such new equity will likely be sought from new investors.

The new equity capital and debt-to-equity conversions contemplated as part of SAS FORWARD will entail substantial dilution to existing shareholders.

Labor discussions

SAS continues to pursue negotiations with all of its organized labor groups as a means of achieving a consensual outcome with respect to labor’s share of the burden sharing program. Notably, the requested labor concessions are an important element of SAS achieving a competitive and sustainable business model, but in aggregate represent less than 20% of the targeted annual cost improvements. An agreement with organized labor groups is a condition of SAS FORWARD and it will not be possible to raise new capital or secure the future of the airline without labor burden sharing.

Update on discussions with stakeholders

Discussions are currently ongoing regarding stakeholders’ participation and acceptance of burden sharing. Given the limited progress made so far, there can be no guarantees that SAS FORWARD will be successfully completed. In the event that the expected burden sharing, debt conversions, and new capital raise are not completed as planned, SAS will not be able to support its existing capital structure and current liquidity levels and it cannot be ruled out that SAS could become unable to meet its obligations over the longer term as they fall due.

Implementation processes

SAS FORWARD involves complex multiparty negotiations. As is usual in a restructuring process, it is possible that SAS may seek to utilize one or more court restructuring proceedings designed to assist in the resolution of SAS’s financial difficulties and help implement parts of SAS FORWARD.

Finally, it should be noted that the completion of the cost reduction programs, the debt-to-equity conversions, the fleet restructuring and the significant equity capital raise are subject to uncertainty and there can be no guarantee of success in such efforts by SAS. Further, the transactions envisaged are subject to various conditions including EU Commission and other state aid approvals and other regulatory clearances and various stakeholder approvals, which have not yet been obtained.

POSITIVE MARKET DEVELOPMENT TOWARD THE SUMMER SEASON

SAS continues the ramp-up and has during the quarter had the highest number of passengers since the pandemic started. We have recently experienced positive market development and strong ticket sales ahead of the important summer season. SAS and Apollo (a provider of charter travel services to and from the Nordic market) also signed an agreement during the quarter, concerning summer charter flights, within the framework of their three-year collaboration. Flights will depart from around 20 locations in Sweden, Norway and Denmark and fly to around 30 Mediterranean destinations.

The SAS traffic program and capacity are increased according to customer demand, but there are constraints to the growth of traffic, as effects of the pandemic linger on. The whole airline ecosystem has difficulties ramping up, which also has an implication on SAS. We foresee challenges during summer relating to everything from airports and ground staffing to crew training bottlenecks such as availability of training instructors, and we also see continued delayed aircraft deliveries. In order to minimize the risk of disruption and create more stability for the upcoming summer travels, SAS has made adjustments to the traffic program during June to August, after the quarter ended.

SAS aims to be a global leader in sustainable aviation and during the quarter we launched the Travel Pass Biofuel, a punch card for corporate customers who regularly travel to the same destination and want to include biofuel to reduce the climate impact of their trips.

LOOKING AHEAD

We see a pent-up demand for traveling and underlying demand is healthy, both for business and for leisure travel. However, we still remain cautious due to the prevailing uncertainties. Traffic to and from Asia remains affected by remaining COVID-19 restrictions as well as the geopolitical situation.

I am grateful for the hard work my colleagues at SAS are delivering, to ensure that we take care of our customers in the best possible way. Together we are working our way through these challenging times and we welcome our customers on board our aircraft.

Anko van der Werff

President and CEO

Stockholm, May 31, 2022

SAS aircraft photo gallery:

SAS sees a 380% increase in traffic in April compared with last year

Scandinavian Airlines-SAS issued this traffic report for April:

During April more than 1.5 million passengers traveled with SAS, an increase of approximately 380% compared to the same month last year. SAS’ capacity increased at the same time by 190% compared with the same period last year. In comparison with last month, the total number of passengers increased with 7% and capacity was increased by 15%. The flown load factor for April was 71%, an improvement of 41 percentage points compared to April last year.

“We continue the ramp-up and see the highest number of passengers since March 2020. Looking forward, sales and booking trends are positive for the summer period ahead. Traffic to and from Asia remains a challenge due to remaining COVID-19 restrictions as well as the geopolitical situation, that impact the recovery of far-Eastern traffic. We remain focused on building a competitive and financially strong SAS, which will be achieved through the success of the SAS FORWARD transformation plan”, says Anko van der Werff, President & CEO of SAS.

SAS scheduled traffic Apr22 Change1 Nov21- Apr22 Change1
ASK (Mill.) 2,794 184.1% 13,720 160.4%
RPK (Mill.) 1,980 561.4% 8,316 439.0%
Passenger load factor 70.9%         40.4 pp 60.6%  31.3 pp
No. of passengers (000) 1,526 378.2% 6,842 268.8%
Geographical development, schedule Apr22           vs.          Apr21 Nov21- Apr22   vs.   Nov20-Apr21
RPK ASK RPK ASK
Intercontinental 1,732.3% 159.9% 1,254.7% 152.6%
Europe/Intrascandinavia 386.4% 363.9% 623.1% 349.0%
Domestic 166.3% 52.6% 129.3% 38.8%
SAS charter traffic Apr22 Change1 Nov21- Apr22 Change1
ASK (Mill.) 74 2,576.9% 658 1,816.1%
RPK (Mill.) 65 5,743.1% 526 3,849.5%
Load factor 87.6% 47.5 pp 79.9% 41.1 pp
No. of passengers (000) 19 6,626.3% 171 4,644.9%
SAS total traffic (scheduled and charter) Apr22 Change1 Nov21- Apr22 Change1
ASK (Mill.) 2,868 190.8% 14,378 171.1%
RPK (Mill.) 2,045 580.5% 8,842 468.2%
Load factor 71.3% 40.8 pp 61.5% 32.1 pp
No. of passengers (000) 1,545 383.8% 7,013 277.3%

1 Change compared to same period last year, p p = percentage points

Preliminary yield and PASK Apr22 Nominal change1 FX adjusted change
Yield, SEK 1.03 -16.5% -18.9%
PASK, SEK 0.73 94.3% 88.9%
Apr22
Punctuality (arrival 15 min) 75.4%
Regularity 97.9%
Change in total CO2 emissions 125.9%
Change in CO2 emissions per available seat kilometer, -4.4%
Carbon offsetting of passenger related emissions 50.8%

Definitions:

RPK – Revenue passenger kilometers

ASK – Available seat kilometers
Load factor – RPK/ASK
Yield – Passenger revenues/RPK (scheduled)

PASK – Passenger revenues/ASK (scheduled)

Change in CO2 emissions per available seat kilometers – SAS passenger related carbon emissions divided with total available seat kilometers (incl non-revenue and EuroBonus tickets), rolling 12 months vs rolling 12 months previous year

Carbon offsetting of passenger related emissions – Share of SAS passenger related carbon emissions compensated by SAS (EuroBonus members, youth tickets and SAS’ staff travel) during the month

From fiscal year 2020 we report change in CO2 emissions in total and per Available Seat Kilometers (ASK) to align with our overall goal to reduce our total CO2emissions by 25% by 2025, compared to 2005.

SAS aircraft photo gallery:

SAS reports negotiations with its unions remains stalled on its Transformation (Reorganization) Plan

SAS provided this update on its transformation plan:

When Q1 results were released on February 22, SAS announced a new comprehensive business transformation plan; SAS FORWARD, which is designed to secure long-term competitiveness and improved financial strength. As outlined at that time, the success of the SAS FORWARD Plan is entirely dependent upon an ability to deleverage SAS and raise significant amounts of new equity capital. Both are directly dependent upon SAS management and its key stakeholders working together to deliver by FY2026 a full SEK 7.5 billion in annual cost reductions (inclusive of interest expense and dividends on hybrid bonds issued by SAS).

SAS management and its advisors have outlined to certain key stakeholder groups the importance of achieving the full burden sharing in an out-of-court process as a means of reaching a competitive cost structure and earning the support from financial parties for both the full debt-to-equity conversions and raising the new equity capital. Unfortunately, to date, such negotiations have yielded little results and much remains to be done before SAS management and board can declare success with this program.

A more comprehensive update on the progress of the SAS FORWARD Plan, will be published once discussions have progressed further. SAS will release its Q2 results on May 31, 2022, in accordance with its financial calendar.

SAS aircraft photo gallery:

SAS reports a 360% increase in traffic in March compared with the same month last year

SAS has issued this traffic report:

During March more than 1.4 million passengers traveled with SAS, an increase of 360% compared to the same month last year. SAS’ capacity increased at the same time by approximately 190% compared with the same period last year. In comparison with last month, the total number of passengers increased with more than 50% and capacity was increased by 30%. The flown load factor for March was 69%, an improvement of 38 percentage points compared to March last year.

“The passenger numbers this month are the highest since the pandemic hit in March 2020. The ramp-up continues and we are increasing our capacity toward the summer peak season, also on the back of improved sales trends. We have added flights and destinations to the Mediterranean as well as to North America, that will be operated with our new, fuel efficient A321LR aircraft. At the same time, the need for transformation of our company remains and we continue with the SAS FORWARD plan, to secure a competitive and financially strong SAS for the future” says Anko van der Werff, President & CEO of SAS.

SAS scheduled traffic Mar22 Change1 Nov21- Mar22 Change1
ASK (Mill.) 2,359 172.9% 10,926 155.0%
RPK (Mill.) 1,597 500.8% 6,335 409.5%
Passenger load factor 67.7%         37.0pp 58.0%  29.0 pp
No. of passengers (000) 1,398 346.8% 5,316 246.1%
Geographical development, schedule Mar22           vs.          Mar21 Nov21- Mar22   vs.   Nov20-Mar21
RPK ASK RPK ASK
Intercontinental 1,603.1% 125.6% 1,142.4% 150.9%
Europe/Intrascandinavia 762.9% 442.2% 604.9% 345.0%
Domestic 155.9% 57.0% 121.5% 36.1%
SAS charter traffic Mar22 Change1 Nov21- Mar22 Change1
ASK (Mill.) 128 2,210.3% 585 1,749.8%
RPK (Mill.) 113 4,898.7% 461 3,677.9%
Load factor 88.3% 47.5 pp 78.9% 40.3 pp
No. of passengers (000) 42 6,982.1% 152 4,472.3%
SAS total traffic (scheduled and charter) Mar22 Change1 Nov21- Mar22 Change1
ASK (Mill.) 2,487 185.8% 11,510 166.6%
RPK (Mill.) 1,710 537.9% 6,797 441.3%
Load factor 68.8% 38.0 pp 59.0% 30.0 pp
No. of passengers (000) 1,440 359.3% 5,467 255.2%

1 Change compared to same period last year, p p = percentage points

Preliminary yield and PASK Mar22 Nominal change1 FX adjusted change
Yield, SEK 1.07 -16.8% -21.9%
PASK, SEK 0.73 83.2% 71.9%
Mar22
Punctuality (arrival 15 min) 84.4%
Regularity 98.6%
Change in total COemissions 122.3%
Change in COemissions per available seat kilometer, -5.8%
Carbon offsetting of passenger related emissions 53.1%

Definitions:

RPK – Revenue passenger kilometers

ASK – Available seat kilometers
Load factor – RPK/ASK
Yield – Passenger revenues/RPK (scheduled)

PASK – Passenger revenues/ASK (scheduled)

Change in COemissions per available seat kilometers – SAS passenger related carbon emissions divided with total available seat kilometers (incl non-revenue and EuroBonus tickets), rolling 12 months vs rolling 12 months previous year

Carbon offsetting of passenger related emissions – Share of SAS passenger related carbon emissions compensated by SAS (EuroBonus members, youth tickets and SAS’ staff travel) during the month

From fiscal year 2020 we report change in CO2 emissions in total and per Available Seat Kilometers (ASK) to align with our overall goal to reduce our total CO2 emissions by 25% by 2025, compared to 2005.

SAS adds more summer routes

In response to the rising demand for travels, SAS is introducing more direct routes this summer.

As the world is finally opening again and the demand for travel is rising, SAS is adding several new summer routes, flying more than 200 direct routes from Scandinavia to over 100 destinations.

In response to the increasing demand for flights to Southern Europe SAS is adding more departures to popular Mediterranean destinations and will this summer offer up to 350 weekly flights between Scandinavia and Spain.

Starting end of June, SAS will fly to 11 destinations in Italy and seven destinations in Greece. Three new routes are launched from Copenhagen to Santorini, Heraklion in Crete and Corfu. In addition, routes from Oslo and Stockholm to Tivat in Montenegro will be launched. SAS started flying from Copenhagen to Tivat last summer.

SAS is also adding a seasonal route from Stockholm to the Baltic seaside resort of Pärnu  – Estonia’s “summer capital” and the second biggest tourist destination in the country after the capital Tallinn.

To further meet increasing demand for intercontinental travels, SAS is expanding its network in North America and will start direct routes to Toronto from Copenhagen and Stockholm in June, as was communicated earlier. SAS will operate three weekly flights from Copenhagen and four weekly flights from Stockholm with the brand-new A321LR aircraft. The Toronto route will enable smooth connectivity to other Canadian cities like Montreal and Vancouver.

SAS appoints Erno Hildén as new CFO

SAS has appointed Erno Hildén as Executive Vice President and CFO.

Erno Hildén, comes from Finland and has held several operational leadership positions in the global airline industry. He has worked both as chief financial officer and chief operating officer for Finnair and recently he also held a position as executive vice president for privatization at Saudia Airlines.

“I am very pleased to welcome Erno Hildén to SAS. Erno’s extensive financial experience combined with aviation expertise makes him a valuable addition to SAS top management team. He will play a key role during the current transformation plan, SAS FORWARD, where we are securing a long term financially stable and competitive SAS,” says Anko van der Werff, President & CEO of SAS.

“I am proud and honored to be joining the SAS group. A strong brand with true Scandinavian roots aiming to become a global leader in sustainable aviation is a stimulating environment where I am sure I will be able to contribute. I am excited to be part of SAS FORWARD and am looking forward enabling the changes necessary to secure the long-term success of SAS”, says Erno Hildén.

Erno assumes the role at SAS in April. As previously communicated, the current CFO Magnus Örnberg will leave SAS during the spring but is remaining in his current role to ensure a seamless transition for the new CFO.

SAS comments on pilot negotiations as pilots walk out

Scandinavian Airlines-SAS issued this statement:

The last two years have been the most challenging in the history of the aviation industry whilst the future remains unpredictable.

To meet this new reality SAS presented a long-term plan “SAS FORWARD” with 7.5 billion SEK in cost savings to secure competitiveness. The success of SAS FORWARD is relying on all stakeholders’ participation including all employee groups.

Therefore, it’s worrisome that the pilot unions after the second day of negotiations chose to walk out of the negotiation room. By doing so, they are putting the entire company at stake, including thousands of colleagues’ jobs and careers.

SAS is in a more severe situation than ever, but we owe our lenders, owners, employees, and not the least our customers – as well Danish and Swedish taxpayers – to secure a place for SAS on the future market. We can only do this by moving forward with a plan that ensures a future competitive SAS.

We have a difficult journey in front of us, but we fully believe the SAS FORWARD plan is the right way forward to give us a solid financial platform that will ensure a strong, competitive and sustainable SAS for many years to come.

SAS launches Travel Pass Biofuel

SAS now offers a punch card, Travel Pass Biofuel, for corporate customers who regularly travel to the same destination and want fossil free fuel, covering their flights, included.

With Travel Pass Biofuel the customers get a discounted, prepaid punch card where 100% biofuel is always included, to reduce the environmental impact of their flights.

SAS has ambitious sustainability targets and is committed to increase the use of sustainable aviation fuels, such as biofuel, in our operations in order to lower the climate impact from traveling by air. We now welcome our customers on board the journey toward a more sustainable aviation by making it possible to buy Travel Pass Biofuel. This is perfect for customers who want to make their flying more sustainable, says Markus Ek, VP Global Sales, SAS.

SAS strives to be a leader in sustainable aviation and works hard to reduce CO2 emissions. SAS does this, for example, with modern and fuel-efficient aircraft and by using sustainable aviation fuels. SAS constantly strives to increase the supply and use of sustainable aviation fuels (SAF), such as biofuel, as these are the bridge on our journey toward net zero-emission aviation. The biofuel contributed by our customers is added to the biofuel SAS is already buying. In that way we can together make a faster progress towards a more sustainable future.

Facts about Travel Pass Biofuel

•    100% biofuel, corresponding to the full fuel use for your trips
•    A discounted alternative when traveling regularly to one destination
•    Prepaid tickets – No additional charges
•    All tickets are SAS Plus, and includes Fast Track, SAS Lounge, free seating, priority boarding, free WiFi onboard, checked-in baggage and meals onboard
•    Full flexibility with SAS Plus
•    Applies to Travel Pass prepaid, with 20, 40, 60, 100 and 200 punches – Valid for one year from the date of purchase

Facts about SAS and biofuel
•    Biofuel is a sustainable aviation fuel (SAF) as defined in ICAO CORSIA Annex 16.
•    Biofuel emits up to 80% less climate-impacting CO2 compared to fossil fuels
•    SAS makes no profit on the purchase
•    The biofuel is added to the amount of biofuel that SAS is already committed to buying
•    Regulation allows blending in up to 50 percent biofuel with traditional jet fuel, in existing aircraft