SAS makes successful restart after comprehensive restructuring

The Scandinavian airline SAS has reached a significant turning point after a two-year restructuring process and a successful completion of the U.S. Chapter 11 proceedings. With a new chairman and new owners, the company is embarking on a promising future. As part of the proceedings, SAS has restructured more than 2 billion USD in debt. Additionally, the aircraft fleet and associated costs have been adjusted, which is expected to significantly improve cost efficiency. Furthermore, SAS secured an investment of 1.2 billion USD in both equity and debt. This investment is led by Castlelake LP and Air France-KLM, highlighting the important role these partners will play in the airline’s future direction.