Salem Radio Network News Wednesday, August 10, 2022

Business

SAS applies for Chapter 11 in the United States

STOCKHOLM (Reuters) – Scandinavian airline SAS said on Tuesday it was initiating a court-supervised process in the United States by a Chapter 11 filing to implement key elements of its SAS FORWARD restructuring plan.

It said in a statement it would continue to serve its customers throughout the process.

“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 U.S., a legal process for financial restructuring conducted under U.S. federal court supervision,” it said.

(Reporting by Anna Ringstrom; Editing by Kim Coghill)

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