09/11/2012 (Agence Europe) - SAS and Iberia close to bankruptcy. Scandinavian Airlines (SAS) is struggling and Norway, Sweden and Denmark have asked the European Commission to authorise them to provide aid to the company (of which they jointly own 50%). Public guarantees might be granted to loans from various banks to the tune of €550 million. SAS will be submitting a rescue plan next week. Spanish airline Iberia, a sister company of British Airways, is also struggling and in the process of planning restructuration. It is expected to scrap some 20% of its assets, including 4,500 jobs, and 15% of its routes will disappear, according to reports in the British media. (MD/transl.fl)