December 7, 2022

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SAS submits monthly operational reports to the US court and releases certain financial information of the group – Italiavola & Travel

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SAS AB (“SAS” or the “Company”) and each of its subsidiaries subject to Chapter 11 voluntary action in the United States will soon file monthly operating reports containing certain financial information for the period from September 1, 2022 to September 30, 2022 with the US Bankruptcy Court for the Southern District for New York (“the Court”). All SAS companies subject to the Chapter 11 voluntary procedure are required to file operational reports with the court on a monthly basis. The financial information in the monthly operating reports includes the cash position, assets and liabilities, revenue and profit and loss for the previous month.

In connection with these judicial documents, SAS discloses certain consolidated financial information of the SAS Group as at September 30, 2022, see the following table. The financial information has not been audited or reviewed by the SAS auditor.

Financial Information, SAS Group Million Swedish Krona (Million USD)1)
November 1, 2021 – September 30, 2022
he won 28361 (2,550)
net income for the period -7.117 (-640)
As of September 30, 2022
total assets 66,163 (5,948)
total liabilities 66,070 (5,490)
Cash and cash equivalents 10,149 (912)

1) Amounts in Swedish krona in US dollars have been recalculated based on the Riksbank Swedish / US dollar exchange rate of 11.1227 as of September 30, 2022.

SAS publishes a press release in respect of each monthly filing of the management report, except for months in which the filing coincides with the publication of the SAS interim reports.

More information about the Chapter 11 process is available on the Company Restructuring website, https://sasgroup.net/transformation. Court documents and other documents relating to a Chapter 11 trial in the United States are available on a separate website operated by the SAS Complaints Agent, Kroll Restructuring Administration LLC, at https://cases.ra.kroll.com/SAS. Information is also available by calling (844) 242-7491 (US/Canada) or +1 (347) 338-6450 (international), as well as by emailing [email protected]

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Consultants

Weil, Gotshal & Manges LLP act as global legal counsel, while Mannheimer Swartling AdvokatbyrÄ AB acts as Swedish legal counsel for SAS. Seabury Securities LLC and Skandinaviska Enskilda Banken AB act as investment bankers, and Seabury acts as a restructuring advisor. FTI Consulting acts as a financial advisor.