SAS in line to benefit as Sweden approves credit guarantees
Sweden’s national legislature has rapidly approved a proposal to issue credit guarantees of up to SKr5b (US$488m) to airlines, of which SKr1.5b will be allocated to SAS. Under the agreement the state will guarantee commercial loans to airlines affected by the coronavirus crisis. “The matter was decided even though it had been submitted less than 2 working days [beforehand],” says the legislature, the Riksdag. Credit guarantees must be notified and approved by the EC before they can be issued, it points out. The measure was put forward under special conditions which enable amending of the budget in extraordinary circumstances. SAS will benefit from similar measures provided by the Danish govt, the ministry says. Both govts are shareholders in the airline. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-23/star/sas-in-line-to-benefit-as-sweden-approves-credit-guarantees
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SAS in line to benefit as Sweden approves credit guarantees
Sweden’s national legislature has rapidly approved a proposal to issue credit guarantees of up to SKr5b (US$488m) to airlines, of which SKr1.5b will be allocated to SAS. Under the agreement the state will guarantee commercial loans to airlines affected by the coronavirus crisis. “The matter was decided even though it had been submitted less than 2 working days [beforehand],” says the legislature, the Riksdag. Credit guarantees must be notified and approved by the EC before they can be issued, it points out. The measure was put forward under special conditions which enable amending of the budget in extraordinary circumstances. SAS will benefit from similar measures provided by the Danish govt, the ministry says. Both govts are shareholders in the airline. <br/>
