Scandinavian airline SAS and the unions representing their pilots said Tuesday that they had reached an agreement, ending a two-week strike that has cost the ailing airline between $9.0 and $12 million a day.

"After 15 days of strike, SAS and SAS Scandinavia pilots' unions have concluded mediation. The parties have agreed on new 5.5-year collective bargaining agreements and flights operated by SAS Scandinavia will resume according to their regular traffic program as soon as possible," SAS said in a statement.

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