Scandinavian airline SAS plans to amend its Chapter 11 reorganization plan, allocating up to $325m for unsecured creditor recoveries.

Scandinavian airline SAS plans to file an amended Chapter 11 reorganization plan, allocating up to $325 million for general unsecured creditor recoveries. This includes up to $250 million in cash and $75 million in new equity. The unsecured creditors include the Danish, Norwegian, and Swedish states, aircraft lessors, pilot unions, and key suppliers. SAS filed for Chapter 11 bankruptcy in 2022, and anticipates exiting the process in the first half of 2024.

February 05, 2024
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