SAS AB, the parent company of Scandinavian Airlines, has announced a rehabilitation plan proposal in Sweden, as part of the ongoing corporate restructuring procedures.
The company has requested the Stockholm District Court to promptly initiate the rehabilitation plan procedure. The hearing of the plan is expected to start the week of July 15, with the court set to make further decisions. An investment agreement has also been concluded with the consortium, including Air France KLM, involving a total investment of $1.2 billion.
Furthermore, Scandinavian Airlines will leave the Star Alliance and join the SkyTeam, which includes Air France and KLM Royal Dutch Airlines, effective September 1.
