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Recapitalisation of SAS

The largest shareholders in SAS have agreed on a recapitalisation plan for the airline necessitated by the shutdown of air travel caused by the COVID-19 crisis to ensure the survival of the airline.

The largest shareholders in SAS have agreed on a recapitalisation plan for the airline necessitated by the shutdown of air travel caused by the COVID-19 crisis to ensure the survival of the airline.

On 30 June 2020, SAS issued a press release and held a press conference where the airline presented the recapitalisation plan agreed on by the major shareholders in the airline - the Danish State, the Swedish State and the Wallenberg Foundation. The plan is to restore the equity of SAS following the losses suffered by the airline because of the COVID-19 crisis and contains the following elements:

  • directed issue of common shares
  • directed issue of hybrid notes
  • conversion of existing debt

See also the press release from the Danish Ministry of Finance.