05-07-2022, 02:18 PM
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Airline SAS applies for Chapter 11 in the United States
05-07-2022, 02:20 PM
On Monday, the SAS pilots' strike began after negotiations between the pilot union and the company stalled.
Today, SAS announces that they are initiating an application for bankruptcy protection in the United States - a so-called chapter 11 process, the company writes in a press release .
https://www.aftonbladet.se/nyheter/a/Ea6...nkursskydd
The purpose of the application is for SAS to be restructured. According to the company, there is sufficient liquidity in the company to fulfill the obligations in the short term. However, the strike has negative effects on this, writes SAS.
Travelers will not be affected by the chapter 11 application, the company continues.
SAS expects the court process in the United States to be completed within 9-12 months.
Today, SAS announces that they are initiating an application for bankruptcy protection in the United States - a so-called chapter 11 process, the company writes in a press release .
https://www.aftonbladet.se/nyheter/a/Ea6...nkursskydd
The purpose of the application is for SAS to be restructured. According to the company, there is sufficient liquidity in the company to fulfill the obligations in the short term. However, the strike has negative effects on this, writes SAS.
Travelers will not be affected by the chapter 11 application, the company continues.
SAS expects the court process in the United States to be completed within 9-12 months.
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