The pilots of the Scandinavian airline SAS AB in Sweden, Norway and Denmark ended the strike, which lasted 15 days, as they reached an agreement with the company’s management. This was reported by the press service of the carrier.

The agreement is concluded for the next five and a half years. It guarantees both cost savings and stable jobs for pilots.

About a thousand pilots went on strike on July 4 after talks between the SAS and unions over wages and working conditions collapsed.

The strike led to the cancellation of more than 3,700 flights – that’s half of the flights planned these days, affected the interests of more than 380,000 passengers and cost the company 100-130 million Swedish kronor ($ 9.5-12.2 million) per day, SAS noted. The airline said the pilots’ strikes had severely limited its financial position and threatened its ability to raise additional funds to finance the reorganization.

SAS, facing mounting debt and cash shortages, announced earlier in 2022 that it was launching a comprehensive business restructuring plan.

In July, the carrier filed for bankruptcy in a New York court under Section 11 of the US Bankruptcy Code. This procedure will help SAS obtain the legal protection to proceed safely with the restructuring.