Scandinavian carrier SAS is to defer interest payments on securities which fall due towards the end of April as part of its latest stabilisation plan.

SAS states that it will defer the semi-annual payment of SKr36 million ($3.8 million) for 25 April, as well as the SKr138 million payment for 26 April.

It says the deferral is being carried out in accordance with the securities’ terms and conditions.

The carrier is taking the measure as part of its SAS Forward restructuring plan, outlined earlier this year.

SAS Forward is intended to strengthen the company’s financial position and secure its long-term competitiveness.

This involves implementing a cost-reduction programme in order to provide SAS with the ability to attract new investment.

SAS tail-c-SAS

Source: SAS