SAS avoids bankruptcy after unions approve plan

November 19, 2012 - 10:34 AM

COPENHAGEN, Denmark (AP) — Danish and Norwegian media are reporting that all eight unions have now approved a savings plan that will help the troubled SAS carrier stay afloat.

Denmark's TV2 and Norway's NTB news agency are reporting that the Danish CAU cabin crew union finally signed on to a saving plan Monday afternoon in Copenhagen, a week after talks began.

The deal means that the carrier's board can now proceed with the implementation of a series of austerity measures that that SAS's creditors and owners insisted on.