Air France-KLM, Castlelake Raise SAS Refinancing to $1.2 Billion
SAS AB passenger aircraft parked on the tarmac at Copenhagen Airport in Copenhagen, Denmark.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
Air France-KLM and private equity firm Castlelake LP have increased their planned investment in the bankrupt Scandinavian flag-carrier SAS AB by $25 million to $1.2 billion, SAS said in a statement Saturday.
SAS on Oct. 3 had announced an investment of $1.175 billion from the investment group to help rescue the carrier, which filed for Chapter 11 bankruptcy protection in July amid headwinds from the Covid-19 pandemic, high fuel prices and a pilot strike.