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SAS AB (publ) (SASNO.OL)

Oslo - Oslo Delayed Price. Currency in NOK
0.4591-0.0062 (-1.33%)
At close: 04:02PM CET
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  • Reuters

    Scandinavian airline SAS gets U.S. court approval for $700 million financing

    The approved credit agreement is a part of the airline's bankruptcy protection process and its terms will be substantially similar to those announced on Aug. 14, SAS said. Long-struggling SAS, ravaged by the pandemic and pressured by low-cost rivals, sought bankruptcy protection in July as pilots went on a two-week strike, hoping to emerge within nine to 12 months as a more competitive airline. Some analysts have said that Apollo could become a major shareholder in SAS by converting the loan to equity at the end of the Chapter 11 process.

  • Reuters

    Scandinavian airline SAS gets U.S. court approval for $700 mln financing

    Bankrupt Scandinavian airline SAS AB on Friday said it has received U.S. court approval for $700 million of debtor-in-possession (DIP) financing from funds managed by private equity firm Apollo Global Management. The approved credit agreement is a part of the airline's bankruptcy protection process and its terms will be substantially similar to those announced on Aug. 14, SAS said. Long-struggling SAS, ravaged by the pandemic and pressured by low-cost rivals, sought bankruptcy protection in July as pilots went on a two-week strike, hoping to emerge within nine to 12 months as a more competitive airline.

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