SAS signs SEK 3.3 billion revolving credit facility agreement

SAS ©AirTeamImages

SAS has signed a SEK 3.3 billion three-year revolving credit facility agreement, 90% guaranteed by the Swedish and Danish states.

Since the announcements from the Scandinavian governments on credit guarantees to airlines, SAS has worked with four Nordic banks as well as respective government agencies to clarify the criteria and terms for the guarantees. The guaranteed debt package, which has been approved by the European Commission, was implemented in the context of the COVID-19 crisis and is intended to support the airline’s liquidity and preparing for the recovery of its activities.

SAS ist still in dialogue with the Norwegian government to be able to access up to NOK 1.7 billion of additional state guaranteed funding. ($1.00 = SEK9.85 = NEK10.29 at time of publication.)

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