TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Scandinavian Airlines (SAS), Scandinavia's largest carrier, announced on Tuesday that its forecasted revenue will exceed 48 billion Swedish crowns ($4.57 billion) in 2024. The airline, which recently filed for Chapter 11 bankruptcy protection, expressed optimism about its future prospects.
According to Reuters, SAS is confident that it will emerge from its amended Chapter 11 plan of reorganization by the end of the first half of the year. Yahoo reported that the carrier plans to file the updated projections with the U.S. Bankruptcy Court for the Southern District of New York.
Addressing Debt and Financial Projections
As part of the ongoing restructuring process, the company expects its net debt to range between 36 billion and 39 billion Swedish crowns before emerging from Chapter 11. Post-reorganization, the projected debt is set to decrease to between 22 billion and 24 billion Swedish crowns.
SAS made it clear that existing shareholders will not retain any value, as all common shares and listed commercial hybrid bonds will be cancelled, redeemed, and delisted upon emergence from the Chapter 11 process. These measures aim to position the airline for long-term financial stability.
Investment Agreement and Recapitalization Approval
In November of last year, SAS successfully secured U.S. bankruptcy court approval for a 13.2 billion Swedish crown investment agreement. The agreement, reached with a consortium comprising Castlelake, Air France-KLM, Lind Invest, and the Danish state, injected much-needed capital into the struggling airline.
The airline remains on track to present the amended Chapter 11 plan and final projections to the U.S. Bankruptcy Court. Simultaneously, SAS received approval from EU competition authorities for its 833 million euros ($904.39 million) recapitalization plan, supported by Denmark and Sweden.
SAS's decision to file for bankruptcy protection came after grappling with high costs and reduced demand caused by the global pandemic. With clear financial goals and a new structure, the airline believes it can achieve a successful turnaround and emerge as a stronger industry player.
By setting ambitious revenue targets and implementing structural changes, SAS is positioning itself for a resilient future. As it strides confidently into 2024, the airline aims to regain its status as a leading player in the global aviation industry.
Photo: Businesswire
