STOCKHOLM—The Swedish government will not inject new capital into SAS, its industry minister said on Tuesday, dealing a blow to the loss-making airline’s restructuring efforts and sending its shares down 14 percent to all-time lows.
SAS said last week a restructuring plan announced in Feburary depended on it raising 9.5 billion Swedish crowns ($968 million) in cash and converting 20 billion crowns of debt to equity, warning of liquidity problems if it fell short.
