SAS News - SAS https://www.sasgroup.net/_rss/sas-news/en Fri, 23 Feb 2024 11:57:56 GMT https://validator.w3.org/feed/docs/rss2.html WaaS en All rights reserved 2024 <![CDATA[MASSIVE INTEREST FOR SAS’ “DESTINATION UNKNOWN”]]> https://www.sasgroup.net/newsroom/press-releases/2024/massive-interest-for-sas-destination-unknown/ https://www.sasgroup.net/newsroom/press-releases/2024/massive-interest-for-sas-destination-unknown/ Mon, 12 Feb 2024 14:40:00 GMT <![CDATA[SAS AWARDED CONTRACT WITH EQUINOR]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-awarded-contract-with-equinor/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-awarded-contract-with-equinor/ Fri, 09 Feb 2024 10:00:00 GMT <![CDATA[Notice convening the Annual General Meeting of SAS AB]]> https://www.sasgroup.net/newsroom/press-releases/2024/notice-convening-the-annual-general-meeting-of-sas-ab/ https://www.sasgroup.net/newsroom/press-releases/2024/notice-convening-the-annual-general-meeting-of-sas-ab/ Thu, 08 Feb 2024 10:30:00 GMT
The Board has decided that the shareholders shall also be able to exercise their voting rights at the Annual General Meeting by postal voting.]]>
<![CDATA[SAS Traffic figures – January 2024]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-traffic-figures-january-2024/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-traffic-figures-january-2024/ Wed, 07 Feb 2024 10:00:00 GMT <![CDATA[SAS Annual and Sustainability Report – Fiscal Year 2023]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-annual-and-sustainability-report-fiscal-year-2023/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-annual-and-sustainability-report-fiscal-year-2023/ Wed, 07 Feb 2024 07:00:00 GMT <![CDATA[SAS provides update on expected recoveries for creditors in the chapter 11 process – obtains support of Official Committee of Unsecured Creditors]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-provides-update-on-expected-recoveries-for-creditors-in-the-chapter-11-process-obtains-support-of-official-committee-of-unsecured-creditors/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-provides-update-on-expected-recoveries-for-creditors-in-the-chapter-11-process-obtains-support-of-official-committee-of-unsecured-creditors/ Mon, 05 Feb 2024 01:25:00 GMT
Holders of SAS AB’s listed commercial hybrid bonds are expected to receive an initial cash recovery corresponding to up to 9.4% of the nominal value of such claims upon emergence from the chapter 11 process, with the possibility of receiving an additional cash distribution of up to 15.6% (up to 25.0% cumulatively) of the nominal value of such claims at a later date under certain conditions. The final recovery for holders of listed commercial hybrid bonds and other allowed general unsecured claims, including the amount and timing of any additional distributions, remains to be confirmed (as further described below and in more detail in the Chapter 11 Plan and the Disclosure Statement).

The Official Committee of Unsecured Creditors appointed in the chapter 11 cases supports the Chapter 11 Plan and is strongly urging all holders of general unsecured claims to vote to accept the Chapter 11 Plan. ]]>
<![CDATA[SAS TO COLLABORATE WITH AIRBUS, VATTENFALL, SWEDAVIA AND AVINOR ON THE SUSTAINABILITY JOURNEY]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-to-collaborate-with-airbus-vattenfall-swedavia-and-avinor-on-the-sustainability-journey/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-to-collaborate-with-airbus-vattenfall-swedavia-and-avinor-on-the-sustainability-journey/ Wed, 31 Jan 2024 12:00:00 GMT <![CDATA[SAS files monthly operating reports with U.S. court and announces certain financial information for the Group]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-files-monthly-operating-reports-with-us-court-and-announces-certain-financial-information-for-the-group/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-files-monthly-operating-reports-with-us-court-and-announces-certain-financial-information-for-the-group/ Fri, 26 Jan 2024 07:00:00 GMT <![CDATA[SAS provides update on chapter 11 process, including financial projections]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-provides-update-on-chapter-11-process-including-financial-projections/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-provides-update-on-chapter-11-process-including-financial-projections/ Tue, 23 Jan 2024 22:00:00 GMT <![CDATA[SAS EXPANDS ITS SUMMER PROGRAM TO INCLUDE ATLANTA]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-expands-its-summer-program-to-include-atlanta/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-expands-its-summer-program-to-include-atlanta/ Tue, 16 Jan 2024 10:00:00 GMT <![CDATA[SAS Traffic figures – December 2023]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-traffic-figures--december-2023/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-traffic-figures--december-2023/ Mon, 08 Jan 2024 10:00:00 GMT <![CDATA[SAS WILL FLY TO OVER 40 COUNTRIES IN THE SUMMER OF 2024]]> https://www.sasgroup.net/newsroom/press-releases/2024/sas-will-fly-to-over-40-countries-in-the-summer-of-2024/ https://www.sasgroup.net/newsroom/press-releases/2024/sas-will-fly-to-over-40-countries-in-the-summer-of-2024/ Tue, 02 Jan 2024 13:02:43 GMT <![CDATA[SAS files monthly operating reports with U.S. court and announces certain financial information for the Group]]> https://www.sasgroup.net/newsroom/press-releases/2023/sas-files-monthly-operating-reports-with-us-court-and-announces-certain-financial-information-for-the-group-2023-12-22/ https://www.sasgroup.net/newsroom/press-releases/2023/sas-files-monthly-operating-reports-with-us-court-and-announces-certain-financial-information-for-the-group-2023-12-22/ Fri, 22 Dec 2023 07:00:00 GMT <![CDATA[SKELLEFTEÅ CITY AIRPORT COLLABORATES WITH SAS ON SUSTAINABLE AVIATION FUEL]]> https://www.sasgroup.net/newsroom/press-releases/2023/skelleftea-city-airport-collaborates-with-sas-on-sustainable-aviation-fuel/ https://www.sasgroup.net/newsroom/press-releases/2023/skelleftea-city-airport-collaborates-with-sas-on-sustainable-aviation-fuel/ Thu, 21 Dec 2023 09:00:00 GMT <![CDATA[SAS INCREASES FLIGHTS TO NORTH AMERICA AND ASIA IN THE SUMMER PROGRAM]]> https://www.sasgroup.net/newsroom/press-releases/2023/sas-increases-flights-to-north-america-and-asia-in-the-summer-program/ https://www.sasgroup.net/newsroom/press-releases/2023/sas-increases-flights-to-north-america-and-asia-in-the-summer-program/ Thu, 14 Dec 2023 10:00:00 GMT <![CDATA[Notice convening the Extraordinary General Meeting of SAS AB]]> https://www.sasgroup.net/newsroom/press-releases/2023/notice-convening-the-extraordinary-general-meeting-of-sas-ab/ https://www.sasgroup.net/newsroom/press-releases/2023/notice-convening-the-extraordinary-general-meeting-of-sas-ab/ Mon, 11 Dec 2023 12:00:00 GMT
The Board has decided that the shareholders shall also be able to exercise their voting rights at the Extraordinary General Meeting by postal voting in accordance with the Company’s Articles of Association.]]>
<![CDATA[SAS Traffic figures – November 2023]]> https://www.sasgroup.net/newsroom/press-releases/2023/sas-traffic-figures--november-2023/ https://www.sasgroup.net/newsroom/press-releases/2023/sas-traffic-figures--november-2023/ Thu, 07 Dec 2023 10:00:00 GMT <![CDATA[Q4 2023: SAS SECURES FINANCING FOR THE FUTURE – KEY MILESTONE IN SAS’ CHAPTER 11 PROCESS]]> https://www.sasgroup.net/newsroom/press-releases/2023/q4-2023-sas-secures-financing-for-the-future--key-milestone-in-sas-chapter-11-process/ https://www.sasgroup.net/newsroom/press-releases/2023/q4-2023-sas-secures-financing-for-the-future--key-milestone-in-sas-chapter-11-process/ Thu, 30 Nov 2023 07:00:00 GMT
We are making steady progress in our Chapter 11 process in the US and in reaching our overall targets in the SAS FORWARD plan with one major milestone reached during the quarter. On October 3, SAS announced that Castlelake, Air France-KLM and Lind Invest, together with the Danish state, had been selected as the winning bidder consortium in SAS' exit financing solicitation process. We entered an investment agreement with the bidding consortium shortly after the end of the quarter. The agreement includes a total investment in the reorganized SAS corresponding to approximately SEK 13.2 billion, including approximately SEK 5.2 billion in new unlisted equity and approximately SEK 8 billion in secured convertible debt. The investment comprises a key step in our SAS FORWARD plan, and confirms that our new investors believe in SAS and our potential to remain at the forefront of the airline industry for years to come.

We currently target receiving approval of the Chapter 11 plan from the US court in early 2024, to be followed by obtaining regulatory approvals and the implementation of a Swedish company reorganization at the SAS AB level (likely to be filed by SAS AB in 2024). As a result of that process, all of SAS AB’s common shares and listed commercial hybrid bonds are expected to be cancelled, redeemed and delisted (currently expected to take place during the second quarter of 2024). Consequently, there is no expected value for existing shareholders in SAS AB and only a modest recovery is expected for the holders of commercial hybrid bonds. SAS expects that its operations will be unaffected by such legal proceedings and that it will continue to serve its customers as normal.]]>
<![CDATA[The European Commission re-approves Denmark’s and Sweden’s participation in the 2020 recapitalization of SAS]]> https://www.sasgroup.net/newsroom/press-releases/2023/the-european-commission-re-approves-denmarks-and-swedens-participation-in-the-2020-recapitalization-of-sas/ https://www.sasgroup.net/newsroom/press-releases/2023/the-european-commission-re-approves-denmarks-and-swedens-participation-in-the-2020-recapitalization-of-sas/ Wed, 29 Nov 2023 15:40:00 GMT <![CDATA[SAS UNVEILS EUROBONUS CONSCIOUS TRAVELER]]> https://www.sasgroup.net/newsroom/press-releases/2023/sas-unveils-eurobonus-conscious-traveler/ https://www.sasgroup.net/newsroom/press-releases/2023/sas-unveils-eurobonus-conscious-traveler/ Wed, 29 Nov 2023 10:00:00 GMT