Source: Reuters Author: 01/04/2010
Subject Concerned: Aircraft Airlines
Scandinavian airline SAS said on Jan. 4 that it had contracted to sell 18 MD-80 aircraft to U.S.-based firm Allegiant Travel Company for an undisclosed amount.
The airline, half-owned by Sweden, Norway and Denmark, said in a statement that the sale of the surplus aircraft would reduce its net debt by about 200 million Swedish crowns (US$27.95 million).
SAS plans to divest a total of 21 aircraft as part of its ongoing cost-cutting efforts, including the 18 already sold to Allegiant, the parent company of Allegiant Air, it said.
The Scandinavian airline said that it made no capital gain or loss on the deal.