SAS to Lease Boeings from GECAS

SAS is phasing out the MD80 and Boeing 737 Classic at its bases in Stockholm and Oslo and will replace them with Boeing 737 NG (New Generation).

To help accomplish this, SAS has signed an agreement to lease 5 new Boeing 737-800 NGs from GECAS and signed an MoU regarding the lease of 12 Boeing 737- 700's.

The lease arrangements implicate that there will be limited aircraft investments (CAPEX) in 2011.

SAS has today 87 short haul jet on the bases in Oslo and Stockholm, 67 Boeing 737NG, 11 Boeing 737 Classic and 9 MD80.

In line with SAS strategy to streamline its fleet, a decision has been made to also phase out MD80 in its Copenhagen base and replace it with Airbus A320. The replacement will start in 2012 and is expected to be completed by 2016. SAS today operates 29 Short haul jets in Copenhagen, 12 A320 and 17 MD80s.

SAS President & CEO Rickard Gustafson, said, "We are very pleased that we now can continue the process of renewing our fleet. This will reduce complexity and improve our environmental performance."

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