Thursday, May 30, 2024

Billion loss for SAS in March


SAS continues to lose money. Photo: Fredrik Varfjell / NTB

Of NTB | 26.04.2024 09:53:52

Economy and business: Since the financial year began on 1 November, SAS has run a deficit of almost SEK 3.3 billion, according to figures published in connection with the restructuring and bankruptcy protection process the company is in.

This is an increase of just under a billion kroner since the end of February. The Swedish and Norwegian krona are worth approximately the same at today’s exchange rates.

SAS has been approved for bankruptcy protection in the USA. A corresponding approval by the Swedish authorities remains. Only in June is the long legal and financial purgatory expected to be completed.

In addition to Air France-KLM, the investment company Castlelake, the Danish state and financier Henrik Lind will take control of the former state-controlled company.

The transactions under the new ownership structure must also be approved by the European Commission, which is particularly concerned with competition conditions.

(© NTB)


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