The European Commission has approved the restructuring plan of SAS Scandinavian Airlines (SK, Copenhagen Kastrup), stressing that Denmarks and Swedens participation in the process is in line with European Union state aid rules, a company statement said.
The effectiveness of SASs chapter 11 plan of reorganisation remains subject to various conditions precedent, including approvals from various regulatory authorities and a successful completion of SAS Group‘s company reorganisation proceeding in Sweden, the statement said.
The announcement came just a day after the European Free Trade Association Surveillance Authority (ETA) approved Norways participation in the Chapter 11 restructuring as a creditor, stressing the move did not amount to …
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