SAS delays results as it finalises credit discussions

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Scandinavia's embattled SAS Group has postponed the release of its third-quarter results, while it finalises discussions on extending financial facilities.

The company has already released preliminary financial data for the quarter, to curb concerns over its position, but says it is still negotiating details on the "extension and amount" of a revolving credit facility and backstop financing.

"Finalisation of SAS's comprehensive plan to address the company's cost structure and complete asset disposals is an essential part of these negotiations," it says, adding that the company has "materially advanced" the negotiations.

It expects the discussions to be finalised within a few days and has opted to delay releasing the third-quarter results. They will be released no later than 12 November.