On Friday 28 June, the European Commission announced that it had authorised plans by Denmark and Sweden to grant restructuring aid of up to €1.3 billion (SEK 15 billion) to the airline Scandinavian Airlines System AB, or “SAS”.
An initial recapitalisation measure of around €833 million was authorised in October 2020 under the temporary framework, as amended in the context of the Covid-19 pandemic. Following the annulment by the General Court of the EU, the Commission again authorised this recapitalisation in November 2023. However, the company found it necessary to file for insolvency.
Sweden and Denmark then presented the European Commission with a restructuring plan supported by this State aid, which included a set of measures to limit SAS’s losses and increase its revenues.
The aid includes provisions designed to limit distortions of competition in the single market. SAS has committed to reducing its presence in the air transport market, reducing its fleet and disposing of certain assets and slots. (Original version in French by Émilie Vanderhulst)