SAS Scandinavian Airlines (SK, Copenhagen Kastrup) has filed a second amended restructuring plan with the United States Bankruptcy Court for the Southern District of New York as part of its ongoing Chapter 11 process, claiming to have obtained the support of the majority of unsecured creditors.
The amended plan includes allocating up to USD325 million to its general unsecured creditors, consisting of a maximum total of USD250 million in cash and USD75 million in new equity, it explained in a statement on February 5. This new equity would be distributed to creditors like the states of Denmark, Sweden, and Norway as well as go-forward aircraft lessors, pilot unions, key suppliers, and certain other creditors with claims against the cash-st…
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