
SAS officially exits bankruptcy protection
After more than two years of intense efforts, Scandinavian Airlines System (SAS) has officially emerged from bankruptcy protection, welcoming a new circle of owners including the capital fund Castlelake, airline Air France-KLM, Lind Invest, and the Danish state. A new board will be headed by Kåre Schultz, previously the CEO of Teva and former executive at Novo Nordisk and Lundbeck. Having navigated the restructuring process, SAS is poised for growth with less debt and a capital infusion of $1.2 billion from the new owners. The Danish Minister of Finance, Nicolai Wammen, expressed satisfaction with the outcome aligning with a political agreement from June 2022. SAS was recently delisted from the stock exchange on August 13th and now aims to focus on future expansion.