(Telestock) – The Scandinavian airline Sas, which had over $2 billion in debt, has completed its restructuring process, which, thanks to an investment of $1.2 billion, has allowed it to emerge from Chapter 11 in the United States. The corporate reorganization now sees Air France-KLM, Castlelake, Lind Invest and the Danish State as owners, which have appointed a new Board of Directors chaired by Kåre Schultz.
The total investment committed in the reorganization procedure of Sas was composed of new unlisted capital of 475 million and 725 million in secured convertible debt. During the month of September, the airline will pay the amount due to creditors.
Since the beginning of the fiscal year, i.e. the period from November 2023 to July 2024, SAS has carried 18 million passengers, an increase of 6.5% compared to the same period in fiscal year 2023. In addition, Last July, the highest monthly profitability ever was recorded in July 2024.