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SAS Files Updated Financials with US Court

SAS submits monthly reports to the US court as part of the Chapter 11 process, and shares Group’s financial data

SAS AB and its subsidiaries involved in the voluntary Chapter 11 process will soon file monthly operating reports for November 1, 2022 to June 30, 2023, with the US Bankruptcy Court for the Southern District of New York. These reports, which are obligatory, contain financial details like cash position, assets, liabilities, revenue, and profit and loss for the preceding month.

In connection with these Court filings, SAS announces certain consolidated financial information for the SAS Group as of June 30, 2023. See the table below. The financial information has not been audited or reviewed by SAS’ auditor.

Financial Information, SAS Groupmillion SEK (million USD)1)
 November 1, 2022 – June 30, 2023
Revenue25,144 (2,317)
Net income for the period-4,769 (-440)
 As of June 30, 2023
Total assets57,511 (5,300)
Total liabilities62,986 (5,805)
Cash and cash equivalents7,110 (655)
Source: SAS

1) SEK amounts are converted to USD using the SEK/USD rate of 10.8509 from the Swedish Riksbank as of June 30, 2023.

SAS releases a press statement with each monthly report, except when it coincides with SAS’ interim reports. 

More on the Chapter 11 process is on the Company’s restructuring website, https://sasgroup.net/transformation.

US Chapter 11 process documents are on a separate website managed by SAS’ claims agent, Kroll, at https://cases.ra.kroll.com/SAS.

You can also call (844) 242-7491 (U.S./Canada) or +1 (347) 338-6450 (International), or email at SASInfo@ra.kroll.com.

SAS Ch 11 Advisors

Weil, Gotshal & Manges LLP and Mannheimer Swartling Advokatbyrå AB are SAS’s legal counsels. Seabury Securities LLC and Skandinaviska Enskilda Banken AB are investment bankers, with Seabury also advising on restructuring. FTI Consulting is the financial advisor.

SAS, a top Scandinavian airline, operates in Europe, USA, and Asia. Committed to sustainable values, SAS aims to lead in sustainable aviation and plans to cut carbon emissions by 25% by 2025. Besides flights, SAS offers ground handling, technical maintenance, and cargo services. As a founding member of the Star Alliance™, it offers a vast network worldwide. Learn more at https://www.sasgroup.net

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