SAS Scandinavian Airlines Nears Decision on Equity Investment Amid Chapter 11 Restructuring

SAS Scandinavian Airlines is on the verge of finalizing its decision on an equity stake investment as part of its Chapter 11 restructuring in the United States. The airline has concluded the evaluation process of the bids submitted by potential investors. The announcement of the winning bid is imminent, with the carrier noting significant interest from investors. The equity fundraising is a crucial component of SAS’s efforts to secure new investments as it undergoes restructuring. The airline must raise a minimum of SEK 9.5 billion to address its debt burden as part of the reorganization process. The timeline for SAS’s capital raising process has been extended by a week at the request of one or more bidders. The airline is seeking court approval for the restructuring around the turn of the year, with further regulatory approvals expected in 2024. Both Denmark and Sweden hold a 21.8% stake in SAS, and the outcome of the equity investment process will have implications for the airline’s ownership structure.

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