SAS: Liquidity position is sufficient for next 12 months

    SAS reported (02-Feb-2021) despite measures taken to reduce costs in 2020, a “significant decrease in revenue cannot be outweighed by cost reductions”. The company concluded a recapitalisation plan in 4Q2020 aimed at counteracting COVID-19 effects and to “remedy the liquidity shortage and the negative effects on equity”. In total, liquidity was strengthened by SEK12 billion (EUR1.2 billion) and equity improved by SEK14.25 billion (EUR1.4 billion). The company added demand and financial performance for 2021 will affect revenue and lower ticket sales and cash flows “to an extent and for a duration that are currently unknown”. SAS‘ assessment is that the liquidity position is sufficient for at least the next 12 month period. [more – original PR]

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