Struggling Airline SAS Weighs Final Bids From Equity Investors
09/26/2023 19:21
Scandinavia’s biggest airline SAS AB has received a final round of bids from potential suitors looking to invest in the carrier as part of a rescue plan to shore up its ailing finances.
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Scandinavia’s biggest airline SAS AB has received a final round of bids from potential suitors looking to invest in the carrier as part of a rescue plan to shore up its ailing finances.
The Stockholm-based company, which is going through a Chapter 11 reorganization in the US, needs to raise at least 9.5 billion Swedish kronor ($856 million) in new equity and convert or cut its debt pile of about 20 billion kronor. Chief Executive Officer Anko van der Werff has previously said the amount of equity is not set and could go higher.
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Struggling Airline SAS Weighs Bids From Equity Investors