Stock Market News

SAS and pilot unions resume talks as crippling strike enters 10th day

2022.07.13 19:16

SAS and pilot unions resume talks as crippling strike enters 10th day
FILE PHOTO: SAS airplanes are parked at the Oslo Airport Gardermoen, as Scandinavian airlines (SAS) pilots go on strike, Norway July 4, 2022. Beate Oma Dahle/NTB via REUTERS

By Helena Soderpalm

STOCKHOLM (Reuters) -Scandinavian airline SAS and unions representing striking pilots resumed talks over a new collective bargaining agreement on Wednesday as the walkout entered its 10th day.

The 75-year old airline was struggling even before the pandemic hit in 2020 due to high costs and growing competition from low-cost carriers.

The pilots strike, which started in July 4, is now costing it $10 million to $13 million a day and has forced it to cancel more 1,200 flights at the peak of the summer travel season.

The carrier, whose main owners are the governments of Sweden and Denmark with stakes of 22% each, on Wednesday cancelled 242 flights, or 75% of those scheduled, according to FlightAware.

“We hope that we can solve this and that we can end this strike. That is why we are here,” Roger Klokset, from the union representing SAS’ Norwegian pilots, told reporters as he arrived for the mediator-led negotiations in Stockholm.

Loss-making SAS last week filed for U.S. bankruptcy protection seeking breathing space to restructure its business, saying the strike had hastened the filing. [nL1N2YM09P]

The Swedish pilot union said last week their latest bid included pilots taking a 5% pay cut, working more hours per week, working part-time in winter with a reduced salary and foregoing summer vacation.

Unions are also demanding that pilots dismissed during the pandemic are rehired at SAS Scandinavia, rather than having to compete with external applicants for jobs at newly started SAS Link and Ireland-based SAS Connect.

In addition to affecting hundreds of thousands of travellers, the strike is also putting stress on Northern Norway’s health system as staff have not been able to fly in on time for some surgeries.

Norwegian authorities can stop a strike if they believe it can pose an acute danger to life and health. On Tuesday, they said the strike did not pose such a risk.

SAS shares were up 11% in mid-day trade.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 76,045.37 1.69%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,922.01 2.84%
tether
Tether (USDT) $ 1.00 0.02%
solana
Solana (SOL) $ 199.46 5.66%
bnb
BNB (BNB) $ 599.37 0.07%
usd-coin
USDC (USDC) $ 0.999598 0.02%
xrp
XRP (XRP) $ 0.55096 1.26%
dogecoin
Dogecoin (DOGE) $ 0.197847 2.28%
staked-ether
Lido Staked Ether (STETH) $ 2,920.85 2.84%
cardano
Cardano (ADA) $ 0.430345 15.97%
tron
TRON (TRX) $ 0.16068 0.84%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,459.13 2.58%
the-open-network
Toncoin (TON) $ 4.89 0.31%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 1.79%
avalanche-2
Avalanche (AVAX) $ 27.43 0.83%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 75,906.34 1.54%
weth
WETH (WETH) $ 2,923.35 2.68%
chainlink
Chainlink (LINK) $ 12.79 2.76%
bitcoin-cash
Bitcoin Cash (BCH) $ 378.35 0.49%
sui
Sui (SUI) $ 2.33 2.49%
polkadot
Polkadot (DOT) $ 4.20 1.40%
leo-token
LEO Token (LEO) $ 6.34 3.43%
usds
USDS (USDS) $ 0.999823 0.04%
litecoin
Litecoin (LTC) $ 71.44 0.79%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,071.25 2.61%
uniswap
Uniswap (UNI) $ 8.89 2.14%
near
NEAR Protocol (NEAR) $ 4.23 0.48%
aptos
Aptos (APT) $ 9.73 0.07%
pepe
Pepe (PEPE) $ 0.000011 5.26%
bittensor
Bittensor (TAO) $ 506.32 4.77%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.41 0.30%
internet-computer
Internet Computer (ICP) $ 7.73 3.03%
dai
Dai (DAI) $ 0.999764 0.02%
stellar
Stellar (XLM) $ 0.10151 3.35%
ethereum-classic
Ethereum Classic (ETC) $ 20.19 0.44%
monero
Monero (XMR) $ 163.38 0.43%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.14%
kaspa
Kaspa (KAS) $ 0.113522 5.90%
whitebit
WhiteBIT Coin (WBT) $ 19.65 2.07%
aave
Aave (AAVE) $ 180.27 2.40%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.343278 0.36%
crypto-com-chain
Cronos (CRO) $ 0.097916 13.79%
blockstack
Stacks (STX) $ 1.67 1.78%
okb
OKB (OKB) $ 40.20 1.00%
dogwifcoin
dogwifhat (WIF) $ 2.35 0.90%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.26%
arbitrum
Arbitrum (ARB) $ 0.577393 0.34%
mantle
Mantle (MNT) $ 0.662905 7.35%
filecoin
Filecoin (FIL) $ 3.72 1.16%