SAS wants to bring the leasing companies, the companies that lease aircraft to the airline, to the negotiating table.
This is reported by Norwegian E24, which interviewed group management member Kjetil Håbjørg.
”Chapter 11 is a tool to force creditors and leasing companies to the negotiating table,” he said. The reason for bringing them to the negotiating table is to accelerate the SAS Forward plan.
When asked who does not want to come to the negotiating table, Kjetil Håbjørg answers that it varies, but that a tool is needed to move forward and Chapter 11 is such a tool.
So far, SAS has failed to both obtain a lower leasing fee and to get leasing companies to take back aircraft that SAS no longer wants to lease. According to E24, SAS owns 20 aircraft and leases 80.
SAS pays over 4 billion Norwegian kroner per year to lease the 80 aircraft and in total the company has debts to the leasing companies of over 15 billion Norwegian kroner, according to E24.
The regulations in Chapter 11 open up the possibility for SAS to both terminate existing lease agreements and for SAS to return aircraft that the company no longer wants to lease. This is the reason why SAS believes.
Source: Nyhetsbyrån Direkt
