As part of the SAS FORWARD Plan, outlined in the SAS AB (publ) (SAS or the “Company”) press release on the 22 February 2022 in connection with the Q1 results, SAS will defer the interest payments due 25 and 26 April 2022 on its Capital Securities. The deferral of interest payment is made in accordance with the terms and conditions for the respective Capital Securities
This means that SAS defers the SEK 36 m semi-annual interest payment due 25 April 2022 on its outstanding SEK 1,615 bn perpetual capital securities with ISIN SE0014957999 and the SEK 138 m semi-annual interest payment due 26 April 2022 on its in aggregate outstanding SEK 6 bn subordinated perpetual capital securities with ISIN SE0014958005 and SE0014958013 (jointly, the “Capital Securities”).
SAS FORWARD Plan is designed to secure long-term competitiveness and financial strength. The success of the program and the ability to attract potential new capital relies on SAS fully achieving the cost reduction plan which in turn depends upon SAS stakeholders’ full participation.
A more comprehensive update on the progress of the SAS FORWARD Plan, will be published later in April.