SAS gets 3 billion kroner credit line from Denmark and Sweden

SASPhoto: Vidar Ruud / NTB

The Danish and Swedish governments are making SEK 3 billion available to the airline in order to help it recover after the corona crisis.

“We are pleased that the credit line is in place and grateful for the support from our main owners,” CFO Magnus Örnberg stated in a press release.

The support was announced in May but had to be approved by the European Commission.

The two countries contribute half of the sum each, the Ministry of Trade and Industry in Stockholm and the Ministry of Finance in Copenhagen have previously stated.

Among other things, the credit facility is intended to provide the airline with a liquidity buffer since the market for flights has become very uncertain due to the pandemic.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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