Scandinavian carrier SAS has revised its timeline for equity solicitation, extending the deadlines for investors by four weeks.

SAS, which is restructuring under US Chapter 11 bankruptcy protection, also states that it aims to complete its court-supervised processes around the end of this year.

The airline is looking to raise at least SKr9.5 billion ($896 million) in new equity capital as part of the ‘SAS Forward’ re-organisation scheme.

It claims it has received “substantial interest” from potential financial and strategic investors in the company.

SAS states that, following initial discussions, it is extending the deadlines for the procedures in order to provide “enough time for investors to prepare their bids” as well as for the assessment of offers.

Initial indications of interest, as a result, are due by 17 July and final bids will be accepted to 18 September.

SAS close-up-c-SAS

Source: SAS