SAS after $1.3 billion in rescue funding

SAS is looking for a total SEK 12.5 billion ( $1.3 billion) as part of a recapitalisation plan just weeks after signing the deal with the Danish and Swedish governments for SEK3.3 billion, and the third time it’s has looked for support since COVID 19 hit the aviation sector. The additional capital raising was announced in a press release by SAS where it said the Swedish government had put forward a proposal to the Swedish Parliament to support with up to SEK 5 billion as part of the company’s recapitalisation plan. SAS says it has also received support from the