SUPPORT FROM MAJOR SHAREHOLDERS, THE GOVERNMENTS OF DENMARK AND SWEDEN, TO PROVIDE SAS WITH ACCESS TO A CREDIT LINE AMOUNTING TO SEK 3.0 BILLION
The ongoing COVID-19 pandemic has led to a low level of demand for flights over an extended period. Market conditions also make it difficult to predict how demand will develop ahead of the important summer season given that customers are increasingly choosing to book their trips on short notice. The prevailing uncertainty means that access to liquidity is essential for all airlines. As such, SAS has secured support from major shareholders and the governments of Denmark and Sweden for access to a credit line totaling SEK 3.0 billion. The credit line, which must be structured pursuant to the EU’s rules for state aid, is designed to create a liquidity buffer and is to be seen as a complement to other ongoing activities at SAS to reduce costs and strengthen liquidity.
For more information, contact:
SAS press office, +46 (0)8 797 2944
Michel Fischier, VP Investor Relations, +46 (0)70 997 0673
SAS, Scandinavia’s leading airline, with main hubs in Copenhagen, Oslo and Stockholm, is flying to destinations in Europe, USA and Asia. Spurred by a Scandinavian heritage and sustainable values, SAS aims to be the global leader in sustainable aviation. We will reduce total carbon emissions by 25 percent by 2025, by using more sustainable aviation fuel and our modern fleet with fuel-efficient aircraft. In addition to flight operations, SAS offers ground handling services, technical maintenance and air cargo services. SAS is a founder member of the Star Alliance™, and together with its partner airlines offers a wide network worldwide. Learn more at https://www.sasgroup.net
This information is information that SAS AB is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted by Michel Fischier for publication on 26 May 2021 at 17:30 CEST.