SAS Scandinavian Airlines (SK, Copenhagen Kastrup) has signed a Memorandum of Understanding (MoU) with Airbus (AIB, Toulouse Blagnac) for eight A350-900s and four A330-300s, as part of its strategy to modernize its fleet with more fuel-efficient aircraft. The agreement was signed in the Norwegian capital, Oslo. Scandinavian Airlines will take delivery of the first A350 in 2018 while the A330s will begin arriving in 2015. They will be used to replace the carrier's seven A340-300s as leases expire.