Crisis-hit airline SAS has found a new financier.
An American private equity firm – Apollo Global Management – is investing the equivalent of SEK 7.1 billion.
The news came on the night of Sunday Swedish time.
SAS then announced that it had entered into a form of bridge financing with funds managed by Apollo Global Management.
SAS now writes in the press release that it expects “the court to approve the company’s financing in mid-September 2022”.
“We are pleased to have secured this funding commitment from Apollo Global Management after an extensive and competitive process.
With this financing, we will have a strong financial position to continue to operate on an ongoing basis during our voluntary restructuring process in the US,” said Carsten Dilling, Chairman of the Board of SAS, in the press release.