SAS owes thousands of customers refunds for customers whose flights were canceled.

But the wait to receive your money could take several more months, according to SVT Nyheter.

Large parts of SAS's aircraft fleet have been grounded during the corona pandemic.

This has led to huge refunds from customers who had already paid for their tickets.

To date, over 700,000 travelers have been handled, according to SVT News.

But the organization to handle this is undersized, and ”thousands” may be forced to wait for additional months to receive their money.

”"This is something that we have not been prepared for at all or had systems or processes to handle. It is unprecedented in our history," says SAS's Director of Communications Karin Nyman to SVT News.

A large part of the cases are handled manually, which extends the refund time. According to Karin Nyman, SAS is now trying to automate the process.

”"We are doing everything we can to pay back, but it is a very difficult situation," she tells SVT.

So far, a third of the 700,000 customers handled have accepted travel vouchers instead of cash.

On June 30, a rescue package of just over SEK 14 billion was announced to ensure SAS's survival.

Part of that is a rights issue of almost 4 billion to existing shareholders.

As Di reported on Friday, almost 20 percent of the issue is unguaranteed, as Nordea has reportedly refused to guarantee its share. According to Di, the major bank's refusal has caused the other banks working on the issue – SEB, Swedbank and Danske Bank – to also withdraw.

On Friday, SAS also announced that meetings with creditors of bonds and hybrid bonds totaling over SEK 3.7 billion have been canceled. The company has made it clear that the holders do not accept the conversion proposals that SAS has made.

Source: di.se