{"id":127411,"date":"2022-07-05T16:12:31","date_gmt":"2022-07-05T14:12:31","guid":{"rendered":"https:\/\/www.voyages-d-affaires.com\/?p=127411"},"modified":"2023-10-10T12:44:32","modified_gmt":"2023-10-10T10:44:32","slug":"sas-chapter-11","status":"publish","type":"post","link":"https:\/\/www.voyages-d-affaires.com\/en\/sas-chapter-11","title":{"rendered":"SAS Scandinavian Airlines files for Chapter 11 bankruptcy protection"},"content":{"rendered":"<p>The malaise has been perceptible on the carrier for a long time now <a href=\"https:\/\/www.voyages-d-affaires.com\/en\/sas-toronto-copenhague-stockholm-20220208.html\/\">SAS Scandinavian Airlines<\/a>. The company, whose shareholders are the governments of Denmark, Norway and Sweden, has been in a poor financial position for more than a decade. <strong>Its situation has been weakened by the Covid crisis, particularly with the fall in traffic to Asia.<\/strong>. And more, <a href=\"https:\/\/www.voyages-d-affaires.com\/en\/europe-trafic-aerien-russie-20220228.html\/\"><strong>the impact of the closure of Russian airspace<\/strong> <\/a>to its aircraft.<\/p>\n\n\n\n<aside class=\"wp-block-varenne-link-block\"><p><a href=\"https:\/\/www.voyages-d-affaires.com\/en\/sas-toronto-copenhague-stockholm-20220208.html\/\" data-id=\"120785\">SAS Scandinavian Airlines to Toronto from Copenhagen and Stockholm<\/a><\/p><\/aside>\n\n\n\n<p>A major airline for more than 75 years, SAS Scandinavian Airlines is today struggling to find its position in an extremely competitive European sky. The airline has therefore launched a rehabilitation plan, SAS Forward. <strong>The plan aims to reduce the company's operating costs by SEK 7.5 billion a year.<\/strong> (695 million euros), integrating new aircraft and adjusting the network - in particular with a greater proportion of leisure destinations.<\/p>\n\n\n\n<p>La <strong>pilot strike<\/strong> which is due to run from 5 to 10 July, is further weakening SAS' economic position. <strong>More than 60% flights were cancelled on Tuesday 5 July and negotiations are at an impasse<\/strong>. SAS regrets the action, adding that the strike \"is having a negative impact on the company's liquidity and financial position and, if it continues, this impact could become significant.\"<\/p>\n\n\n\n<aside class=\"wp-block-varenne-link-block\"><p><a href=\"https:\/\/www.voyages-d-affaires.com\/en\/sas-scandinavian-new-york-jfk-20221125.html\/\" data-id=\"136863\">SAS Scandinavian: back to New York JFK<\/a><\/p><\/aside>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-une-mise-effective-sous-le-chapitre-11\"><span style=\"color: #a71f31\">Effective implementation of Chapter 11<\/span><\/h4>\n\n\n\n<p>In this context, <strong>SAS Scandinavian Airlines therefore announced on 5 July that it was filing for Chapter 11 bankruptcy protection in the United States.<\/strong>. Chapter 11 will enable the company to accelerate and simplify the stages of its global SAS Forward business transformation plan.<\/p>\n\n\n\n<p>Through this process, SAS aims to reach agreements with key stakeholders, restructure the company's debt obligations, reconfigure its aircraft fleet and emerge with a significant injection of capital. <strong>SAS expects to emerge from Chapter 11 in the US court system within 9 to 12 months<\/strong>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-aucun-changement-pour-le-passager\"><span style=\"color: #a71f31\">No change for the passenger<\/span><\/h4>\n\n\n\n<p>The carrier specifies that <strong>its operations and flight schedule are not affected by the filing of Chapter 11<\/strong>. <strong>SAS will continue to serve its customers as usual<\/strong>. All services are therefore operating - notwithstanding the current strike. L<strong>inancial obligations such as ticket refunds to customers are not affected.<\/strong>.<\/p>\n\n\n\n<p>\"\u00a0<strong>The process we have begun will enable SAS to continue its legacy of over 75 years of integration with Scandinavian infrastructures and companies.<\/strong>. We are convinced that the measures we are taking will strengthen SAS's ability to seize important opportunities in the future\", stated <strong>Carsten Dilling, Chairman of the SAS Board of Directors<\/strong>.<\/p>\n\n\n\n<p>From his side,<strong> Anko van der Werff, CEO of SAS<\/strong>Chapter 11, \"\u00a0<strong>SAS would continue to restore the network connectivity, products and service our customers expect<\/strong>. We will continue to do so throughout this process and beyond. I am convinced that this process will enable us to become an even better airline for our customers and a stronger business partner\".<\/p>\n\n\n\n<p>He went on to say that he wanted to \"urge the SAS pilots' unions to end their strike and engage constructively in this process\".<\/p>\n\n\n\n<aside class=\"wp-block-varenne-link-block\"><p><a href=\"https:\/\/www.voyages-d-affaires.com\/en\/sas-scandinavian-bangkok-20230504.html\/\" data-id=\"147915\">SAS Scandinavian Airlines: back to Bangkok this winter<\/a><\/p><\/aside>","protected":false},"excerpt":{"rendered":"<p>A strike by pilots at SAS Scandinavian Airlines, which began on 5 July, has resulted in more than 60 % flights being cancelled daily. It precipitated the carrier's decision to file for Chapter 11 bankruptcy protection.<\/p>","protected":false},"author":21,"featured_media":120789,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[2011,2107,127],"type-darticle":[],"n_magazine":[],"class_list":["post-127411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aerien","tag-faillite","tag-transport-aerien","tag-europe","vapo-free"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.9 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SAS Scandinavian Airlines entre sous chapitre 11<\/title>\n<meta name=\"description\" content=\"Pour \u00e9viter sa disparition, SAS vient de se placer sous la protection du chapitre 11 contre les faillites et poursuivre son redressement.\" \/>\n<meta name=\"robots\" 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