SAS to buy up to 40 Airbus A330 aircraft for over $10 billion

Copenhagen: Scandinavian airline SAS said Tuesday that it would buy up to 40 new Airbus jets in its biggest aircraft order ever, totalling over $10 billion, signalling a turnaround after years of financial woes.

"The investment comprises up to 40 Airbus widebody aircraft, combining new Airbus A330-900neo aircraft with additional Airbus A330-300 aircraft secured to support near-term growth ahead of the arrival of the new fleet," SAS said in a statement.

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It said the total list price of the new aircraft totalled over $10 billion, an investment that would "support the continued development of SAS's long-haul network".

"This is the largest investment in our company's history and a clear signal of our confidence in the future," chief executive Anko van der Werff said in that statement.

After years of financial struggles due in part to the impact of the Covid-19 pandemic on travel, the airline was placed under Chapter 11 bankruptcy protection in July 2022 and embarked on a major cost-cutting plan.

Air France-KLM, which owns a 19.9 percent stake in SAS, announced last year that it was initiating proceedings to take a majority stake in the airline, aiming for a 60.5 percent stake.

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The latest order follows a deal last year to buy up to 55 aircraft from Brazilian manufacturer Embraer, expected to be delivered in 2027 and mainly used on routes in the Nordic region.

On Tuesday, the company also presented an economic analysis showing that if the company's planned growth is realised it would support an additional 25,000 jobs in Denmark by 2030 as well as around 4,000 jobs in southern Sweden.