Report, photo copyright by : Gan Yung Chyan, KUCINTA SETIA
According to Reuters, Scandinavian Airlines (SAS) announced on 28 August 2024 that it had completed its restructuring and emerged from U.S. bankruptcy protection. SAS said it had restructured more than $2 billion in debt, adjusted its fleet, and reached agreements with key stakeholders, creditors and suppliers.
Scandinavian Airlines said in a statement: "SAS has become a financially sound company with a stronger capital structure and sufficient liquidity."
Scandinavian Airlines said that continued cost cuts helped the company set a record for monthly profits in July this year, and the company saw opportunities in the growing market. The company did not provide more profit details.
Scandinavian Airlines CEO Anko van der Werff said, "Now we must look to the future and complete the transformation we have begun."
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