SAS AB has applied for company reorganisation in Sweden, pending approval from the Stockholm District Court. This reorganisation applies solely to the parent company, SAS AB, and not its subsidiaries or the airline operations.
SAS’ flight schedule and operations will continue without disruption during this process. The application follows the confirmation of SAS’ Chapter 11 plan of reorganisation by the U.S. Bankruptcy Court for the Southern District of New York on March 19, 2024. The successful completion of the Swedish reorganisation is a condition for the Chapter 11 plan to take effect.
SAS expects to emerge from restructuring proceedings by the end of the first half of 2024. More information about the Chapter 11 cases and restructuring process is available on SAS’ dedicated website and through their legal advisors and claims agent.
Weil, Gotshal & Manges LLP and Mannheimer Swartling Advokatbyrå AB are serving as legal counsels to SAS, with Seabury Securities LLC and Skandinaviska Enskilda Banken AB acting as investment bankers and restructuring advisors.
