SAS Scandinavia Airlines has received U.S. Bankruptcy Court approval for its reorganization plan and now expects to emerge from Chapter 11 in mid-2024.
It may turn out that a deal that took the industry by surprise when it was announced in late 2023 could be the first to take a concrete consolidation step.
The move comes as the airline pushes ahead with its strategic plan, including fleet renewal and growth through alliances and M&A, executives said Dec. 14.
Air France-KLM says it will invest $4.7 million in SAF producer DG Fuels, which plans to produce SAF from biomass using a carbon-conversion technology.
Air France-KLM reports results for a third quarter marked by activity, including the announcement of plans to take a 20% stake in SAS Scandinavian Airlines.
Many questions about the consequences of the deal remain unanswered, including the fate of SAS’ three hubs in the capital cities of Denmark, Norway and Sweden.
Finnair CEO Topi Manner believes Air France-KLM’s plan to acquire up to 19.9% of Scandinavian Airlines (SAS) will have a “somewhat neutral” impact on Finnair.