SAS to Prepare to Raise Capital by Cutting Costs by SEK 7.5 Billion per Year

• (PLX AI) - SAS plans to raise capital; first targets reducing the annual costs by SEK 7.5 billion.
• • SAS adjusting its fleet and product offerings
• • SAS says will be strengthening SAS' balance sheet by deleveraging and raising new capital
• • SAS ticket sales accelerating lately
• • Nov-Jan revenue: MSEK 5,545, net loss MSEK -2,442 and EPS SEK -0.34
• • SEK 3,000 million credit facility secured with the main owners in 2021 was drawn
• • Says success of the program and the ability to attract potential new capital relies on SAS fully achieving the SEK 7.5 billion annual cost take out plan which in turn depends upon SAS stakeholders' full participation