Norwegian the point out will at the time yet again become the proprietor of SAS, a Nordic airline in economic problems.

“Given the company’s situation, we might, subject to selected conditions, approve the conversion of excellent debts into shares if we deem it vital,” explained the Norwegian Minister of Trade and Market. Jan Christian Vestre in its impression.

On the other hand, Vestre confident that Norway will not devote any new funds in the firm or will continue being a extensive-term owner.

In the wake of the vacation limits for the duration of the Korona pandemic, Norway furnished it with a guarantee of NOK 1.5 billion, or around EUR 145 million, in buy to maintain its liquidity.

Both equally Denmark and Sweden have 22 percent of the business. Norway was also a previous owner, but marketed its shares in 2016–2018.

Denmark has said that it is organized to maximize its shareholding to 30% and set off part of SAS ‘s debts. Sweden, on the other hand, is no lengthier ready to recapitalize the firm by growing its stake, but also claimed it would be involved in changing SAS’s debt into shares.

The airline has been in deep financial issues and declared a new austerity program previously this calendar year. In early June, SAS introduced designs to raise SEK 9.5 billion, or somewhere around EUR 890 million, in new money and change a sizeable sum of credit card debt into shares.

SAS’s almost 900 pilots are threatened with a strike on Wednesday thanks to, amid other matters, income troubles. SAS has minimize work opportunities by thousands for the duration of the corona pandemic.