SAS Receives All Court Approvals Necessary to Continue Operating its Business
SAS AB (“SAS”) announces that it has received approval from the U.S. Bankruptcy Court for the Southern District of New York for all of its “First Day” motions as part of the Company’s voluntary chapter 11 process in the U.S.The approvals granted by the Court confirm that SAS is authorized to continue to operate its business in the ordinary course throughout the chapter 11 process in accordance with the Court’s orders. The Court specifically authorizes SAS to, among other things, continue to: · Pay all employee wages and benefits; · Operate the airline in the ordinary course;