Scandinavian airline SAS has unveiled plans to purchase 55 new aircraft from Brazilian manufacturer Embraer, marking its largest investment in nearly three decades. The deal, valued at €3.35 billion, was announced by SAS CEO Anko van der Werff at a press conference in Copenhagen.
According to van der Werff, this is “the strongest sign yet of our successful transformation,” following a turbulent period that saw SAS seek bankruptcy protection in the United States in 2022.
Focus on sustainability and regional connectivity
SAS has signed a contract for 45 Embraer E195-E2 jets, with options for an additional 10 aircraft. Deliveries will start in 2027 and continue over the following four years. These new planes are smaller than the widely used Airbus A320 series, making them particularly suitable for domestic and thinner regional routes, especially in Norway.
Van der Werff emphasized the aircraft’s fuel efficiency and noise reduction, noting that these qualities would benefit both passengers and staff. “It will also strengthen airports,” he added, pointing out that the expansion will enhance connections between Copenhagen, Oslo and Stockholm Arlanda, as well as improve domestic services.
Strengthening SAS Link and key hubs
The new fleet will primarily operate under SAS Link, a subsidiary based in Copenhagen that employs pilots on different contracts than the parent company. SAS Link was established alongside SAS Connect as part of the airline’s efforts to restructure costs and remain competitive.
This investment is also expected to bolster Copenhagen Airport’s position as a central hub in Scandinavia, while Oslo and Arlanda will similarly see increased traffic.
A turning point after financial crisis
The ambitious fleet renewal follows a challenging period for SAS. In July 2022, the airline filed for Chapter 11 bankruptcy protection in the US due to mounting debts. A year later, a new ownership structure was unveiled, with shares now held by US investment firm Castlelake, the Danish state, Air France-KLM, and Danish investor Lind Invest.
As part of this restructuring, SAS was delisted from the stock exchange, leaving previous shareholders with worthless shares. Despite these setbacks, the company describes the new aircraft order as clear evidence of its recovery and long-term strategy.
