Airline SAS posts bigger Q2 loss, eyes end to restructuring

Scandinavian airline SAS posted a Q2 pretax loss that more than doubled from a year earlier on Thursday, while pledging to complete its restructuring this summer. The company's Chapter 11 plan of reorganisation was approved in March. It filed for U.S. bankruptcy protection in 2022 after years of struggle with high costs coupled with low customer demand, exacerbated by the COVID-19 pandemic. "We look forward to emerging as a competitive and financially stronger airline with a stable equity structure," CEO Anko van der Werff said in a statement. SAS said it intends to complete the restructuring proceedings in Sweden and in the US, and fulfil all remaining conditions as soon as possible. The company targets the summer of 2024 to finalise this, but said the timetable may change.<br/>