SAS AB ("SAS " or the "Company") and each of its subsidiaries that are subject to the voluntary chapter 11 process in theU.S. will shortly file monthly operating reports, containing certain financial information for the period ofNovember 1, 2023 toDecember 31, 2023 with theU.S. Bankruptcy Court for the Southern District of New York (the "Court"). AllSAS companies that are subject to the voluntary chapter 11 process are each required to file operating reports with the Court on a monthly basis. The financial information contained in the monthly operating reports includes items such as cash position, assets, liabilities, revenue and profit and loss for the preceding month. In connection with these Court filings,SAS announces certain consolidated financial information for theSAS Group as ofDecember 31, 2023 , see table below. The financial information has not been audited or reviewed bySAS ' auditor. [] Financial Information,SAS Group million SEK (million USD)[1)]November 1, 2023 -December 31, 2023 Revenue 6,240 (625) Net income for the period -154 (-15) As ofDecember 31, 2023 Total assets 52,244 (5,233) Total liabilities 58,753 (5,885) Cash and cash equivalents 4,056 (406) 1) Amounts in SEK have been recalculated to USD based on the Swedish Riksbank's SEK/USD exchange rate of 9.9830 as ofDecember 31, 2023 .SAS publishes a press release in connection with each monthly operating report filing, other than for the months when the filings coincide with the publication ofSAS ' interim reports. Additional information about the Chapter 11 process is available at the Company's dedicated restructuring website, https://sasgroup.net/transformation. Court filings and other documents related to the chapter 11 process in theU.S. are available on a separate website administered bySAS ' claims agent,Kroll Restructuring Administration LLC , at https://cases.ra.kroll.com/SAS. Information is also available by calling (844) 242-7491 (U.S. /Canada ) or +1 (347) 338-6450 (International), as well as by email at SASInfo@ra.kroll.com. AdvisorsWeil, Gotshal & Manges LLP is serving as global legal counsel and Mannheimer Swartling Advokatbyrå AB is serving as Swedish legal counsel toSAS .Seabury Securities LLC andSkandinaviska Enskilda Banken AB are serving as investment bankers. Seabury is also serving as restructuring advisor. For further information, please contact:SAS Press office, +46 8 797 29 44 Investor Relations, +46 70 997 7070 This is information thatSAS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency ofErno Hildén , at08:00 a.m. CET onJanuary 26, 2024 .SAS , Scandinavia's leading airline, with main hubs inCopenhagen ,Oslo andStockholm , flies to destinations inEurope, USA andAsia . Spurred by a Scandinavian heritage and sustainability values,SAS aims to be the driving force in sustainable aviation and in the transition toward net zero emissions. We are continuously reducing our carbon emissions through using more sustainable aviation fuel, investing in new fuel-efficient aircraft and technology innovation together with partners - thereby contributing towards the industry target of net zero CO2 emissions by 2050. In addition to flight operations,SAS offers ground handling services, technical maintenance and air cargo services. Learn more at https://www.sasgroup.net
Click here for more information
© Oslo Bors ASA, source