SAS bankruptcy

SAS bankruptcy

The submit SAS bankruptcy appeared first on TD (Travel Daily Media) Travel Daily.

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

It says the strike motion by pilots has left it in a precarious monetary place.

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

The airline says the submitting will enable the service to proceed working, though the strike has cancelled roughly 50% of its flights globally affecting about 30,000 passengers a day.  It will enable the airline to focus on the enterprise restructuring plan it introduced earlier this 12 months.

“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 mentioned.

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

The airline says it has sufficient liquidity to function within the quick time period.

The submit SAS bankruptcy appeared first on Travel Daily.

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