SAS Pushes Through Plan to Shrink Airline as Unions Sign Up

SAS Group’s plans to eliminate jobs and shrink its business were accepted by pilot and cabin-crew unions as Scandinavia’s biggest airline fights to stay afloat.

SAS surged 29 percent after reaching accords with all eight labor groups, with one deal that covers 600 Swedish cabin crew freezing pay through 2014 and lifting the retirement age to 65, according to their union. Danish flight attendants were the last to sign up, hours after a midnight deadline for a deal expired.