STOCKHOLM (Reuters) – SAS has filed for chapter in the US, the Scandinavian airline stated on Tuesday, warning strike motion by pilots had impacted its monetary place and liquidity.
It stated in an announcement it might proceed to serve its clients all through the method, though a pilot strike launched on Monday is impacting its flight schedule.
It stated the aim of the submitting was to speed up SAS’ transformation.
“To proceed with the implementation of key components of the plan, SAS and sure of its subsidiaries have voluntarily filed for chapter 11 within the U.S., a authorized course of for monetary restructuring performed beneath U.S. federal courtroom supervision,” it stated.
On Monday, wage talks between SAS and its pilots collapsed, triggering a strike that places the way forward for the provider in danger and provides to journey chaos throughout Europe as the height summer time trip interval begins.
SAS stated on Tuesday its evaluation was that it has ample liquidity to fulfill its enterprise obligations within the close to time period however added:
“The strike has a detrimental impression on the liquidity and monetary place of the Firm and, if extended, such impression might change into materials.”