, the plan will result in a 14.25-billion-kronor boost to the airline's equity as it will convert some existing bonds into equity.many airlines
, SAS has been hit hard by the COVID-19 pandemic and announced in mid-March it was temporarily laying off 90% of its workforce. Since then, the company has announced it will be cutting 1,900 full-time positions in Sweden, 1,300 in Norway, and 1,600 in Denmark,In mid-June, SAS said it needed 12.5 billion in new funding as part of its recapitalization plan, and the government of Sweden said it was ready to inject 5 billion kronor into the company.
The Danish government also announced it was willing to support the ailing airline, but did not give a figure. Shares in SAS were down more than 10% on the Stockholm stock exchange following the plan's unveiling.
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