SAS bankruptcy
Posted in Travel Daily
July 13, 2022

SAS bankruptcy

Travel Daily

The post SAS bankruptcy appeared first on TD (Travel Daily Media) Travel Daily.

Scandinavian airline SAS has filed for bankruptcy in the United States.

It says the strike action by pilots has left it in a precarious financial position.

Pay talks between the airline and its pilots broke down, triggering industrial action.

The airline says the filing will allow the carrier to continue operating, although the strike has cancelled approximately 50% of its flights globally affecting about 30,000 passengers a day.  It will allow the airline to concentrate on the business restructuring plan it announced earlier this year.

“To proceed with the implementation of key elements of the plan, SAS and certain of its subsidiaries have voluntarily filed for Chapter 11 in the US”, it said.

“This is a legal process for financial restructuring conducted under US federal court supervision”.

The airline says it has enough liquidity to operate in the short term.

The post SAS bankruptcy appeared first on Travel Daily.

Malcolm Ginsberg

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