As assumed and notified lead the pilot strike in SAS to that the company applied for Chapter 11

An actual Chapter 11 because it was done in the US so they could continue flying with their subsidiaries and operate their bonus program.

The cash situation in SAS must have been worse than previously announced because they have put all cabin crew on leave and are already scrambling to find a loan of 700 million dollars to help them through the reconstruction process. This must mean that most of the earlier announced 8 billion krona cash available was in reality prepayments from customers that is now running out fast as repayments for cancelled flights, and compensation because the non-flying wheren't notified 14 days in advance.


How company management can prefer this process to a slower but still fully flying cost saving exercise is baffling. Or have they looked to much to what happened with Norwegian. Then they have forgotten that the Norwegian process happened in the middle of a pandemic where sources of refinancing where available from many sides and leasing companies where desperate for their planes to stay where they at least had a chance of future income. That has changee now where governments are tightening the financial pursestrings, interests are going up and many airline are asking for more planes for bent up customer demand. 

Maybe they see bonus possibilities for a succesfull reconsruction. Then Werf must have forgotten what happened to Schram in the hands of the new Norwegian investors after those bonus controversies.


What type of reconstruction SAS is seeking is also a question. Norwegian got writh of all its transcontinental and went back to pure Scandinavia and Europe. That would be great for Norse but would remove the whole point of SAS and also Kastrup as a main hub. Would the danish government still be interested in investing if that happened. And what about freight. The third leg in the operation and what really differs SAS from Norwegian, Flyr and Ryanair. Their (termporarily supended) overflying rights for Russia is also a point. Russia give those to only 1 Scandinavian carrier and that have been SAS so far.

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