fbpx
HomeTravel NewsSAS Given Approval to Raise Emergency Cash

SAS Given Approval to Raise Emergency Cash

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.”

Geoff Percival
Geoff Percival
Geoff has worked in business, news, consumer and travel journalism for more than 25 years; having worked for and contributed to the likes of The Irish Examiner, Business & Finance, Business Plus, The Sunday Times, The Irish News, Senior Times, and The Sunday Tribune.
Logo
2,920 Followers
Follow

Must Read