SAS emerges from restructuring proceedings
SAS has successfully completed its restructuring proceedings, initiated two years ago, and emerged from chapter 11 in the USA and the reorganisation of the Swedish company, concluding in the investment of USD 1.2 billion.
The new principal owners of the reorganised company, Air France-KLM, Castlelake, Lind Invest and the Danish State, have agreed to appoint a new board of directors for SAS.
It is led by Kåre Schultz, who said: "I am honoured to have been appointed as new chairman of SAS, and I look forward to leading the board’s work as SAS continues its proud legacy as Scandinavia’s largest airline. Together with SAS’ new investors, board and management, as well as with our partners in the SkyTeam alliance, we will continue to collaborate with partners and customers to drive transformative changes in aviation." (ah)