Travel Daily Media

TDM AWARDS - NOMINATE NOW!

SAS bankruptcy

Scandinavian airline SAS has filed for bankruptcy in the United States.

It says the strike action by pilots has left it in a precarious financial position.

Pay talks between the airline and its pilots broke down, triggering industrial action.

The airline says the filing will allow the carrier to continue operating, although the strike has cancelled approximately 50% of its flights globally affecting about 30,000 passengers a day.  It will allow the airline to concentrate on the business restructuring plan it announced earlier this year.

“To proceed with the implementation of key elements of the plan, SAS and certain of its subsidiaries have voluntarily filed for Chapter 11 in the US”, it said.

“This is a legal process for financial restructuring conducted under US federal court supervision”.

The airline says it has enough liquidity to operate in the short term.

Join The Community

Join The Community

TDM

x Studio

Connect with your clients by working with our in-house brand studio, using our expertise and media reach to help you create and craft your message in video and podcast, native content and whitepapers, webinars and event formats.

SAS bankruptcy

Scandinavian airline SAS has filed for bankruptcy in the United States.

It says the strike action by pilots has left it in a precarious financial position.

Pay talks between the airline and its pilots broke down, triggering industrial action.

The airline says the filing will allow the carrier to continue operating, although the strike has cancelled approximately 50% of its flights globally affecting about 30,000 passengers a day.  It will allow the airline to concentrate on the business restructuring plan it announced earlier this year.

“To proceed with the implementation of key elements of the plan, SAS and certain of its subsidiaries have voluntarily filed for Chapter 11 in the US”, it said.

“This is a legal process for financial restructuring conducted under US federal court supervision”.

The airline says it has enough liquidity to operate in the short term.

Join The Community

Stay Connected

Facebook

101K

Twitter

3.9K

Instagram

1.7K

LinkedIn

19.9K

YouTube

0.2K

TDM

x Studio

Connect with your clients by working with our in-house brand studio, using our expertise and media reach to help you create and craft your message in video and podcast, native content and whitepapers, webinars and event formats.

Scroll to Top