The financially troubled airline SAS was able to organize a loan of 700 million US dollars. This is granted by a fund managed by Apollo Global Management.

According to the SAS, this is a special form of bridging financing that companies that are in Chapter 11 proceedings can complete. The group of companies has been in the United States of America for a few weeks in this form of bankruptcy proceedings. The group wants to reposition itself.

The debtor-in-possession funding is intended to enable SAS, in combination with the funds generated from ongoing operations, to meet its Chapter 11 obligations. The loan term can be inflated to up to 1,5 years.

The carrier's management stated over several months that that you urgently need fresh money. Sweden rejected any form of further state aid, but Denmark and Norway want to participate. The latter country agreed to a debt-to-equity conversion and became so again SAS partner.