Support From Major Shareholders, The Governments of Denmark And Sweden, to Provide SAS With Access to a Credit Line Amounting to SEK 3.0 Billion

The ongoing COVID-19 pandemic has led to a low level of demand for flights over an extended period. Market conditions also make it difficult to predict how demand will develop ahead of the important summer season given that customers are increasingly choosing to book their trips on short notice. The prevailing uncertainty means that access to liquidity is essential for all airlines. As such, SAS has secured support from major shareholders and the governments of Denmark and Sweden for access to a credit line totaling SEK 3.0 billion. The credit line, which must be structured pursuant to the EU’s rules for state aid, is designed to create a liquidity buffer and is to be seen as a complement to other ongoing activities at SAS to reduce costs and strengthen liquidity.