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...
Scandinavian carrier SAS warns that it will have to radically downsize its operations and fleet, and even sell strategic assets if the pilot strike continues much longer. The strike, which started on July 4, has already cost the airline some SEK 1.0 to 1.3 billion and...
UPDATE – SAS is seeking to raise at least SEK 9.5 billion in new equity capital and convert SEK 20 billion in debt and bonds into common shares as part of its FORWARD transformation plan. The capital raise was announced on May 30 during an update of the plan and...
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