SAS aims to secure a lender to finance the airline's restructuring in the US in mid-August, the company's lawyer Gary Holtzer stated in a court hearing.
Bloomberg reports.
Holtzer said the company is optimistic about securing financing totaling $700 million soon.
In addition, the company will also soon ask the bankruptcy judge to sign its new collective bargaining agreement with the pilots, the lawyer said.
SAS filed for Chapter 11 bankruptcy protection in the US at the beginning of the month. Such a filing gives the company breathing space to restructure its operations in order to continue on a profitable path. The bankruptcy filing came after the pilot strike broke out, which has now ended. SAS has previously stated that it aims to complete the court process in the US within 9-12 months.
Source:Finwire-DI.SE
