The full-year loss of SAS Scandinavian Airlines deepened as the airline works its way through the Chapter 11 restructuring process. Despite carrying significantly more passengers in the past months, the financial results are lagging behind. SAS continues to see deep...
UPDATE Oct 5 – In an update of its Chapter 11 restructuring and financial outlook, SAS Scandinavian Airlines says it expects to return to reach an operating profit in its financial year 2024 and become net-debt free in 2026. Revenues should return to pre-Covid...
The 15-day pilot strike in July has cost Scandinavian airline SAS some SEK 1.4 billion ($135 million). It erased most earnings from the higher demand and higher revenues that SAS saw in the third quarter (May-July) of FY22. The carrier continues to operate as normal,...
SAS has entered a debtor-in-possession (DIP) credit agreement of $700 million/SEK 7.0 billion with Apollo Global Management. The arrangement will be used as bridge funding while the Scandinavian airline starts its restructuring plans under Chapter 11 bankruptcy...
After a fifteen-day pilot strike that caught out thousands of passengers, SAS and the pilot unions have reached an agreement on new collective bargaining agreements. This means that the pilot strike, which started on July 4 by some 900 pilots in Sweden, Denmark, and...
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