Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Scandinavian Airlines (SAS), Scandinavia's largest carrier, announced on Tuesday that its forecasted revenue will exceed 48 billion Swedish crowns ($4.57 billion) in 2024. The airline, which recently filed for Chapter 11 bankruptcy protection, expressed optimism about its future prospects.
According to Reuters, SAS is confident that it will emerge from its amended Chapter 11 plan of reorganization by the end of the first half of the year. Yahoo reported that the carrier plans to file the updated projections with the U.S. Bankruptcy Court for the Southern District of New York.
Addressing Debt and Financial Projections
As part of the ongoing restructuring process, the company expects its net debt to range between 36 billion and 39 billion Swedish crowns before emerging from Chapter 11. Post-reorganization, the projected debt is set to decrease to between 22 billion and 24 billion Swedish crowns.
SAS made it clear that existing shareholders will not retain any value, as all common shares and listed commercial hybrid bonds will be cancelled, redeemed, and delisted upon emergence from the Chapter 11 process. These measures aim to position the airline for long-term financial stability.
Investment Agreement and Recapitalization Approval
In November of last year, SAS successfully secured U.S. bankruptcy court approval for a 13.2 billion Swedish crown investment agreement. The agreement, reached with a consortium comprising Castlelake, Air France-KLM, Lind Invest, and the Danish state, injected much-needed capital into the struggling airline.
The airline remains on track to present the amended Chapter 11 plan and final projections to the U.S. Bankruptcy Court. Simultaneously, SAS received approval from EU competition authorities for its 833 million euros ($904.39 million) recapitalization plan, supported by Denmark and Sweden.
SAS's decision to file for bankruptcy protection came after grappling with high costs and reduced demand caused by the global pandemic. With clear financial goals and a new structure, the airline believes it can achieve a successful turnaround and emerge as a stronger industry player.
By setting ambitious revenue targets and implementing structural changes, SAS is positioning itself for a resilient future. As it strides confidently into 2024, the airline aims to regain its status as a leading player in the global aviation industry.
Photo: Businesswire
