SAS Needs MNOK 9500! Lol

SAS announced last night that the company is moving to the next step in the SAS Forward plan, including by starting the hunt for capital for the reconstructed SAS.

“Potential investors can submit bids to, in a leading role or together with other investors, acquire shares in a reconstructed SAS,” says a message.

– Through the process of capital acquisition that we are starting today, we are taking an important step forward in SAS Forward, for a transformation plan that aims to strengthen our financial position, secure long-term competitiveness and consolidate our position as Scandinavia’s leading airline, says CEO Anko Van der Werff.

The process of obtaining capital is described as “exposed to competition and broad”.

Going to court

SAS is in a so-called chapter 11 process, which involves bankruptcy protection. In this connection, the company will go to the US Bankruptcy Court for the Southern District of New York on Thursday to obtain approval for the procedure that will govern the capitalization process.

SAS has previously announced that the company plans to raise at least SEK 9.5 billion in new capital.

“However, the final size of the capital grant depends on the competitive capital acquisition process, as well as the company’s ongoing ability to generate additional liquidity,” it says.

Expect higher income

As part of the announcement on the night of Thursday, SAS has also updated the financial forecasts, among other things based on a revised business plan.

– For the financial year 2025/2026, revenues are now expected to be SEK 58 billion, compared to SEK 49 billion in the forecasts that the company published in a press release on 30 September 2022, writes SAS.

About WALL STREET 58 Articles
News Desk @ JYSTAD CORP are the largest supplier of news articels.

Be the first to comment

Leave a Reply