Unions for SAS employees given do-or-die ultimatum
SAS has no room to make a deal with unions as it fights for survival, CEO Rickard Gustafson says. Unions must approve the plan that was unveiled to save it from bankruptcy this week.
“We have made a plan that we need to implement in full to get the required backing from our principal shareholders and our banks,” Gustafson told Danish TV2. “Of course that comes across as quite definitive, but we have very little room for negotiation.”
More than 30 unions that represent SAS employees have been given until this Sunday to sign up to the deal, which aims to boost results by 6 billion ($885 million). SAS will not be able to keep flying without the loans agreed in recent days and its other major shareholders have ruled out injecting new cash.
Jan Levi Skogvang, leader of the Norwegian union Parat said: “We feel this suggested plan is an ultimatum more than anything else.”
[pictured: CEO Rickard Gustafson; courtesy SAS]