Debt-laden SAS has reached a loan agreement equivalent to SEK 7.1 billion with the American venture capital company Apollo Global Management.
”"With this financing, we will have a strong financial position to continue operating as a going concern during our voluntary reorganization process in the US," says Carsten Dilling, Chairman of the Board of SAS, in a press release.
SAS announced earlier this summer that it has debts of SEK 58 billion.
The airline has filed for bankruptcy protection in the United States, a so-called Chapter 11 proceeding. The proceeding means that SAS needs to restructure its finances for a limited period of time in order to be able to pay off its debts.
Source:TT-Aftonbladet.se
