COPENHAGEN, Denmark (AP) — Scandinavia’s flagship airline SAS averted imminent bankruptcy on Monday after all eight unions signed new collective agreements that will see jobs, salaries and pensions cut in the hope of restoring the company’s competitiveness and profitability.

Seven pilot and cabin crew unions from Sweden, Norway and Denmark had given their approval to the savings plan after midnight Sunday, but the Danish cabin crew union CAU had held out for the better part of the day.