Airline SAS gets US court nod for USD 1.2 bln investment lifeline

Image by Reuters

Reuters - Scandinavian airline SAS said on Tuesday it received U.S. bankruptcy court approval for 13.2 billion Swedish crowns (USD 1.3 billion) investment agreement with a consortium of Castlelake, Air France-KLM , Lind Invest and the Danish state.

The company also received final approval for its new debtor-in-possession financing credit agreement with U.S. based Castlelake for a total of about USD 500 million, boosting the carrier's effort to complete its restructuring and replacing Apollo Global's funding.