Placed since the beginning of July under the bankruptcy regime in the United States, the Scandinavian airline SAS announced on Sunday an agreement guaranteeing it a loan of 700 million dollars.
SAS „has entered into a debtor in possession (DIP) financing credit agreement for $700 million (equivalent to approximately SEK 7 billion) with funds managed by Apollo Global Management,” the carrier said in a statement. communicated.
DIP financing allows companies to obtain cash to continue their activities while being under the protection of bankruptcy law.
On July 5, SAS, which employs some 7,000 people, filed for bankruptcy in the United States as part of an ongoing restructuring.