SAS has debts of 33.5 billion Swedish kronor.

– There is no doubt that SAS is in its most serious financial crisis ever, says aviation analyst Hans Jørgen Elnæs to Børsen.

With nine consecutive quarters of solid deficits, the company can now look down into the abyss, writes Finans.dk.

– The debt is far too high and the company's competitiveness has been weakened by a cost base that is too high, which means that SAS cannot compete on ticket prices against low-cost operators, says Elnæs.

Now the company has to raise billions to get rid of the massive debt.

Source: aftonbladet.se