newstodate.aero

Mar 20, 2024 (newstodate): As widely reported, the U.S. Bankruptcy Court for the Southern District of New York has now approved SAS’ Plan of Reorganization, the "Chapter 11 Plan”.
   Consequently, SAS expects to emerge from the chapter 11 process by the end of the first half of 2024, leaving the airline free to once again prove its worth in an environment that has not become less competitive since the carrier threw in the towel to seek protection from creditors.
   -We look forward to emerging as a competitive and financially stronger airline with a stable equity structure, says an optimistic SAS CEO, Anko van der Werff.
   Over the course of the chapter 11 process, SAS has reconfigured its aircraft fleet and reached amended lease agreements with 15 lessors, representing 59 aircraft
   Looking ahead, SAS will be operating a fleet of 134 aircraft, despite the recent drastic cuts and changes by its Forward-strategy.
   Of these 134 aircraft, only 22 will reportedly be owned by the SAS Group; another 77 aircraft are placed on various re-negotiated lease contracts, while the remaining 35 aircraft are operated on wet-lease contracts with partners including Xfly and CityJet.