Scandinavian Airline SAS Gets US Court Approval for $700 Million Financing

Scandinavian Airline SAS Gets US Court Approval for $700 Million Financing
Scandinavian Airlines (SAS) airplanes are parked at the Oslo Airport Gardermoen in Norway on July 4, 2022. Beate Oma Dahle/NTB via Reuters
Reuters
Updated:

Bankrupt Scandinavian airline SAS AB on Friday said it has received U.S. court approval for $700 million of debtor-in-possession (DIP) financing from funds managed by private equity firm Apollo Global Management.

The approved credit agreement is a part of the airline’s bankruptcy protection process and its terms will be substantially similar to those announced on Aug. 14, SAS said.