SAS Group has filed for Chapter 11 bankruptcy in the United States. It is the parent company of the operating airline SAS Scandinavian Airlines. According to the company, the procedure should have no impact on flight operations.
CEO Anko van der Warff explains, among other things, that the Chapter 11 process is necessary to carry out the restructuring. It would provide the legal tools needed to restructure the group of companies. Chairman Carsten Dilling added that the decision in favor of this application was not solely due to the pilots' strike, but that it accelerated everything.
"We expect to complete the Chapter 11 reorganization in nine to 12 months," said van der Werff. "A strike is the last thing the company needs right now and that's why we urge the Scandinavian pilots' union to end the strike."