Bankrupt Scandinavian airline SAS Friday said it has received US court approval for $700m of debtor-in-possession financing from funds managed by private equity firm Apollo Global Management. The approved credit agreement is a part of the airline's bankruptcy protection process and its terms will be substantially similar to those announced on Aug. 14, SAS said. Long-struggling SAS, ravaged by the pandemic and pressured by low-cost rivals, sought bankruptcy protection in July as pilots went on a two-week strike, hoping to emerge within nine to 12 months as a more competitive airline. Some analysts have said that Apollo could become a major shareholder in SAS by converting the loan to equity at the end of the Chapter 11 process.<br/>
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A Singapore Airlines flight from Paris to Singapore was diverted to Azerbaijan on Friday morning after it developed technical problems. In response to queries from The Straits Times, an SIA spokesman said the aircraft was diverted due to a technical issue and landed uneventfully at Baku airport at around 6.35am (Azerbaijan local time). All 229 passengers and 18 crew disembarked normally. The spokesman added: "We are rendering assistance such as providing meals and hotel accommodation to the affected customers. Singapore Airlines will mount a relief flight to ferry the affected customers and crew back to Singapore. Further details on the relief flight will be announced in due course. The safety of our customers and crew is always our top priority. We apologise for any inconvenience caused."<br/>