Swedish Govt proposes up to EUR476.6m to support SAS

SAS stated (15-Jun-2020) Sweden's Government proposed provided up to SEK5 billion (EUR476.6 million) in support, as part of the company's necessary 'Recapitalization Plan' due to the negative effects of coronavirus. Denmark's Government also communicated political unity for the recapitalisation of SAS. The company estimates that the recapitalisation will encompass new funding need of some SEK12.5 billion (EUR1.2 billion) and additional measures. SAS remains in dialogue with selected stakeholders regarding the terms and conditions of the recapitalisation plan and burden sharing measures required Swedish and Danish governments. Measures will involve internal, external and financial stakeholders in the company, including the holders of SAS outstanding bonds and hybrid notes. [more - original PR]