SAS Files For Chapter 11, Initiating Restructuring As Pilot Strike Begins
Credit: Lars Schroder/TT News Agency/AFP/Getty Images
Scandinavian Airlines (SAS) is seeking $700 million in bridge financing to see it through U.S. Chapter 11 bankruptcy protection, after an indefinite pilots’ strike accelerated its decision to pursue voluntary court-led restructuring. SAS had already warned on June 4 that it might use “one or more”...
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