Scandinavian carrier SAS is extending by a few days the timeline for potential participants in its equity solicitation process.

The new closing date for submission of final bids is 25 September – a delay of one week.

SAS had already previously extended the timeframe, pushing it back by a month. It says the additional time allocation follows requests from “one or more bidders”.

The airline is undergoing a restructuring programme, known as ‘SAS Forward’, under US Chapter 11 bankruptcy protection.

As part of this programme, SAS is seeking recapitalisation through a SKr9.5 billion ($858 million) equity solicitation.

“SAS has received substantial interest from potential investors participating in the process,” it states.

It is seeking to complete court approval of its Chapter 11 process around the end of this year, with other regulatory matters being addressed next year.

SAS A321neo-c-SAS

Source: SAS