SAS Files for Chapter 11 Bankruptcy in the United States

DALLAS – SAS Scandinavian Airlines (SK) announced today that it has voluntarily filed for Chapter 11 in the United States (US) amid financial difficulties and a pilot strike. The airline’s operations should not be affected by this announcement.

The filing means the airline is now officially registered bankrupt in accordance with Chapter 11 of the US Bankruptcy Code and has to undergo restructuring under the authority of the US Bankruptcy Court for the Southern District of New York.

The airline said it filed this document in order to “accelerate SAS’ transformation by implementing key elements of its SAS FORWARD plan.” The SAS read more ⇒

Source:: “Airways Magazine”

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