Financially troubled carrier SAS Scandinavian Airlines has been granted court approval to press ahead with its emergency share sale aimed at raising much needed funds.
SAS has been under Chapter 11 bankruptcy protection in the US since mid-2022.
SAS is hoping to raise more than $910m in fresh capital through the equity sale – with investors having 13 weeks to bid for shares.
SAS chief executive Anko van der Werff: “We will conduct a competitive and broad solicitation process to secure equity capital that will help drive our airline forward and facilitate our emergence from the Chapter 11 process.”
