SAS and pilots unions reach deal to end strike -reports

SAS and pilots unions have reached a wage deal, Norwegian and Danish media reported on Monday, ending a strike over a new collective bargaining agreement that has grounded hundreds of flights and thrown the airline's future into doubt.

SAS and pilots unions have reached a wage deal, Norwegian and Danish media reported on Monday, ending a strike over a new collective bargaining agreement that has grounded hundreds of flights and thrown the airline's future into doubt. A majority of SAS pilots in Sweden, Denmark and Norway walked out on July 4 triggering a strike that SAS has said cost it between $94 million and $123 million a day.

"A deal is in place," Norwegian daily Dagbladet quoted a union labour official, Jan Levi Skogvang, as saying, adding that he was not happy with the settlement. "It is a tragedy for pilots, really. But it is good that we are done with this and that we get the planes in the air again," he said, according to Dagbladet.

SAS was not immediately available for comment while Danish and Swedish unions declined to comment. Ending the strike was an important step but the long-struggling airline still faces major struggles ahead as it needs to slash costs and attract new investors to survive. (Writing by Gwladys Fouche; editing by Muralikumar Anantharaman, David Goodman, Emelia Sithole-Matarise and Niklas Pollard)