Scandinavian Airlines(SAS) has announced its entry into debtor-in-possession(DIP) financing for $700 million. The announcement comes after the airline voluntarily filed for chapter 11 bankruptcy in the US in July 2022. Apollo Global Management will manage the funds. The financing agreement will provide SAS with the necessary funds to meet the airline's obligations while undergoing bankruptcy.
Read More Here: SAS Enters $700 Million Debtor-In-Possession Financing Agreement | SimpleFlying.com
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