SAS: signs credit facility to prepare for recovery

(CercleFinance.com) - Scandinavian airline SAS said that it has signed a 3.
3 billion Swedish kronor (about 300 million euros) three-year revolving credit facility deal, which is 90%-guaranteed by the Swedish and Danish states.

The new credit line, which has been approved by the European Commission, is intended to support the carrier's liquidity and prepare for the recovery of its activities in the current Covid-19 crisis, it said.

Since the announcements made by the Scandinavian governments on credit guarantees to airlines, SAS had worked with several Nordic banks to clarify the terms of a package.

SAS is also in talks with the Norwegian government to access up to 1.7 billion Norwegian kronor (approximately 150 million euros) of additional state guaranteed funding.

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