Manage Tickers Link Financial Account

Has my stock been accused of fraud?Join over 160k users who know.

Ticker	Price	Change($)	Change(%)	Shares	Volume	Prev Close	Open	Gain($)	Gain(%)

Ticker	Status	Jurisdiction	Filing Date	CP Start	CP End	CP Loss	Deadline

Ticker	Case Name	Status	CP Start	CP End	Deadline	Settlement Amt

Ticker	Name	Date	Analyst Firm	Up/Down	Target ($)	Rating Change	Rating Current

Pilot Strike Forces SAS To File For Chapter 11 Bankruptcy In US

Author: Akanksha Bakshi | July 05, 2022 07:37am

Scandinavian airline SAS AB (OTC:SASDY) has filed for bankruptcy protection in the U.S. to help accelerate restructuring plans.
Wage discussions between SAS and its pilots collapsed, sparking a strike that would add to travel disruption across Europe, Reuters reported.
A strike by SAS pilots has accelerated the airline's decision to file for Chapter 11 bankruptcy protection in the U.S., the report quoted the airline's CEO, Anko van der Werff.
The report cited a Sydbank analyst that the work stoppage may cost SAS ~100 million Swedish crowns ($10 million) per day, potentially wiping out up to half of the airline's cash flow in the first four to five weeks alone.
The company said it would continue serving its customers throughout the bankruptcy process.
SAS stated that the filing with a U.S. federal court was made to expedite a restructuring plan announced in February.
Photo Via Company

Posted In: SASDY