Accelerating SAS’ Comprehensive Business Transformation Plan
SAS is taking steps as part of SAS FORWARD, its comprehensive business transformation plan that was launched to enable the Company to continue to be a competitive player in the global airline industry.
On July 5, 2022, SAS initiated a court-supervised process in the United States by voluntarily filing for chapter 11. This process will provide SAS with legal tools to strengthen our financial position and accelerate our work with key elements of SAS FORWARD, while allowing us to continue running our airline.
The chapter 11 process is a legal process conducted under the supervision of the U.S. federal court system, which many large international airlines based outside of the U.S. have successfully used over the years to reduce their costs and complete financial restructurings.
Information Regarding Distribution of Bar Date Notice in SAS’ Chapter 11 process
A note regarding the Bar date in SAS’ Chapter 11 process has been distributed by SAS. Receiving this notice does NOT mean that you have a claim or that SAS or the Bankruptcy Court believes
you have a claim against SAS. If you do not believe you have a claim against SAS for the period until July 5, 2022, you do not need to take any action in response to this notice. More information is available on the link.
Operating As Usual
SAS’ operations and flight schedule are unaffected by the chapter 11 filing, and SAS will continue to serve its customers as normal. Importantly, we expect to have sufficient liquidity to support our business and meet our obligations going forward. SAS has obtained USD 700 million in Debtor-in-Possession (DIP) financing which provides SAS with a strong financial position to fund our operations throughout our restructuring process in the U.S.

For Customers:
- Your current bookings remain in effect and you will be notified as usual if there are any changes to our scheduled departures.
- You can continue to book flights online at flySAS.com or through SAS’ mobile app without service disruption. Reservations and all other customer services and systems will continue as they have been.
- You can continue using tickets, vouchers and gift cards purchased before SAS initiated this process.
- We will honor all EuroBonus services and benefits, and you will be able to continue accruing and redeeming points earned through EuroBonus to purchase tickets with SAS during this process.
- We will continue to issue ticket refunds and honor travel coupons and payments or credits associated with baggage or service claims in adherence with our current policies.
For Suppliers / Business Partners:
- We will pay vendors and suppliers in full on normal terms for goods and services provided on or after the chapter 11 filing date.
- We are relying on the cooperation of all of our suppliers and business partners so we can drive our mutual success.
For Employees:
- You will continue receiving pay and benefits as normal.
- The chapter 11 process has no impact on your day-to-day responsibilities.
Press releases
- SAS initiates court-supervised process in the United States by a Chapter 11 filing to implement key elements of SAS FORWARD Plan and will continue to serve its customers throughout the process
- SAS receives all court approvals necessary to continue operating its business
- SAS files Statements of Financial Affairs (SOFA) and Schedules of Assets and Liabilities (SOAL) with U.S. Court and announces certain financial information for the Group
- SAS Secures USD 700 Million in Debtor-in-Possession Financing
- SAS Receives Court Approval for USD 700 Million in Debtor-in- Possession Financing
- SAS Announces Further Details on the SAS FORWARD Plan including a Financial Outlook
- SAS Reaches Agreements to Amend the Terms of Existing Aircraft and Equipment Lease Agreements
- SAS files monthly operating reports with U.S. court and announces certain financial information for the Group
- SAS Reaches Agreements with Additional Lessors to Amend the Terms of Existing Aircraft and Equipment Lease Agreements
- SAS Reaches Agreement with Additional Lessor to Amend the Terms of Existing Aircraft and Equipment Lease Agreements
- SAS Receives Court Approval for Collective Bargaining Agreements with SAS Scandinavia Pilots’ Unions
- SAS files monthly operating reports with U.S. court and announces certain financial information for the Group
- SAS gives notice of non-payment of interest on Swiss bonds as part of the ongoing chapter 11 process
- SAS Reaches Agreements with Two Additional Lessors – Concludes Lessor Negotiations as Part of Its Chapter 11 Process
- SAS files monthly operating reports with U.S. court and announces certain financial information for the Group
- SAS files monthly operating reports with U.S. court and announces certain financial information for the Group
- SAS initiates process to raise equity financing, provides updated financial projections and confirms expectations for existing shareholders and creditors
- SAS defers interest payment on perpetual capital securities as part of the SAS FORWARD plan and the ongoing chapter 11 process
- Update on SAS’ debtor-in-possession term loan
- SAS files monthly operating reports with U.S. court and announces certain financial information for the Group
- SAS Receives Court Approval for Equity Solicitation Procedures
- Update on Timeline for SAS Equity Solicitation Process
- SAS files monthly operating reports with U.S. court and announces certain financial information for the Group
- SAS files monthly operating reports with U.S. court and announces certain financial information for the Group
- Update on Timeline for SAS Equity Solicitation Process
- SAS files monthly operating reports with U.S. court and announces certain financial information for the Group
- SAS’ evaluation process ongoing following expiration of final bid deadline
- Invitation to press conference for status update on SAS’ equity solicitation process
- SAS reaches major milestone in SAS FORWARD – announces the winning consortium, including details of the transaction structure
Stakeholder information
Customer information
Supplier / Business partner information
Corporate customer information
Additional information
Court filings and other documents related to the chapter 11 process in the U.S. are available on a separate website administered by SAS’ claims agent, Kroll Restructuring Administration LLC, at https://cases.ra.kroll.com/SAS. Information is also available by calling (844) 242-7491 (U.S./Canada) or +1 (347) 338-6450 (International), as well as by email at SASInfo@ra.kroll.com.
Contact information
Investor Relations:
SAS Investor Relations Team
+46 70 997 7070
Media:
SAS Press Office
+46 8 797 2944