Global Courant
The article continues below the advertisement
On Tuesday morning, SAS filed monthly accounting figures in connection with the ongoing bankruptcy process (Chapter 11) in a New York court.
The figures show that SAS had a turnover of four billion Swedish crowns in August this year and a profit after tax of minus 638 million Swedish crowns for the period.
Deadline for bids this morning
At the same time, SAS reached an important milestone this morning: at 6 a.m. Norwegian time – midnight New York time – the deadline for submitting bids under the ongoing capital increase expired. At the end of the deadline, lawyers in New York, working with financial advisors, will review the bids.
On Tuesday morning, the company confirmed that the deadline has been met and that it is now evaluating the received bids. A winner of the bidding competition will be announced later, the company said.
The losses are still high
For comparison, SAS had a deficit of NOK 760 million in the same month last year. Also last fall, the monthly accounting figures were presented through the process that had just started. The process has now been going on for over a year and will hopefully end in the winter.
The article continues below the advertisementSAS is dealing with a different financial year that runs from November to October, and the monthly report for August comes after the company reported quarterly figures in early September. At that time, the deficit for the first three quarters of the budget year and the period from November to July amounted to just over 3.7 billion Swedish crowns. The monthly update for August shows that the deficit has now risen to 4.4 billion. (Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases via links that lead directly to our pages. Copying or other use of all or part of the contents may only be made with written permission or as permitted by law. For further conditions see here.
SAS lost 638 million – assesses submitted bids
World News,Next Big Thing in Public Knowledg
#SAS #lost #million #assesses #submitted #bids
