STOCKHOLM (Reuters) - Scandinavian airline SAS
SAS, part-owned by Sweden, Norway and Denmark, said in a statement the agreement covered orders of eight Airbus A350-900 aircraft and four A330-300 Enhanced.
The carrier has been eyeing an upgrade of its ageing long-distance fleet and late last year struck a deal with unions and lenders to put the airline, which has suffered heavy losses in recent years, on more secure footing.
"It will truly increase our competitiveness and strengthen our customer offering," SAS CEO Rickard Gustafson said of the fleet renewal. "Furthermore, we are able to significantly bring down fuel consumption which will lower our costs and support our goals to reduce emissions."
The SAS said its fleet plan would be funded by export credit financing and a sale and lease-back arrangement. The A350-900s would be delivered starting in 2018 and the A330-300s beginning in 2015, the airline added.
SAS said it would also upgrade the cabins of up to seven of its A330/A340 aircraft as part of the fleet renewal.
(Reporting by Niklas Pollard; editing by Alistair Scrutton)