Effective Crisis Management for iGaming Brands 
How Oil Prices Affect Currency Markets: A Guide for Traders 
OpenAI Heats Up AI Race with o3 Models Aiming to Outperform Google’s Gemini in Complex Problem Solving 
Donald Trump to Allegedly ‘Waive Apple’s China Tariffs’ as He Aims to Stop Samsung From Dominating Global Market 
Starbucks Union Strike Expands Nationwide as Baristas Demand Higher Wages, Better Schedules, and Fair Staffing 
Apple Launches Limited-Time Apple Card Sign-Up Offers: Earn Up to $300 Daily Cash Rewards 
Mark Zuckerberg and Elon Musk Challenge Sam Altman’s $157 Billion OpenAI Over Profit Ambitions 
Economic Indicators from Auction Trends: What Car Auctions Reveal About Consumer Confidence 
Biden’s $300M Contracts to Reuters ‘Target Elon Musk’ as Federal Agencies Investigate His Companies: Report 
Are we becoming too close to AI? 
CNN's 'Historic Ratings Collapse' in 2024 Election Year Raises Industry Concerns 
Advanced Techniques for Optimizing Returns through Copy Trading Algorithms 
Saudi Arabia Warns ‘No Israel Ties’ Unless Gaza War Ends as Trump Allies Pressure for Deal 
Digital Real Estate: How SEO Expertise Becomes a Valuable Investment Asset in the Modern Economy 
American Airlines to ‘End DEI Hiring Practices’ After Complaint Sparks Federal Intervention and Policy Review 
Honda and Nissan Ready to Kick Off Integration Talks to Counter Tesla and Chinese Auto Giants 
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
