SAS Scandinavian Airlines revealed in its latest financial report that it expects to leave bankruptcy protection later in 2023. As reported by Simple Flying, the airline filed for US Chapter 11 bankruptcy protection in JUL 2022, and anticipates that this process will be completed later this year.
SAS also revealed that it expects to return to profitability in 2024, and even beat its earlier predictions of over USD $290 million in profit by the year 2026. Simple Flying reports the reopening of China’s borders gave the airline a boost, and it is also attempting to reduce its losses further by implementing a series of cost-cutting measures, such as renegotiating contracts with some of its aircraft lessors.
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