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SAS submits monthly operating reports to the US court and declares certain financial information for the group - Italiavola & Travel

SAS submits monthly operating reports to the US court and declares certain financial information for the group – Italiavola & Travel

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SAS AB (“SAS” or the “Company”) and each of its subsidiaries is subject to voluntary Chapter 11 proceedings in the United States and will shortly file monthly operating reports containing certain financial information for the period from September 1, 2022 through September 30, 2022. 2022 with the United States Bankruptcy Court for the Southern District of New York (the “Court”). All SAS companies undergoing voluntary Chapter 11 proceedings are required to submit monthly operating reports to the court. Financial information in monthly activity reports includes cash position for the previous month, assets, liabilities, income and profit and loss.

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

Financial Information, SAS Group million SEK (million USD)1)
November 1, 2021- September 30, 2022
revenue 28,361 (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 SEK have been recalculated into USD based on the Swedish Riksbank SEK/USD exchange rate of 11.1227 as of September 30, 2022.

SAS issues a press release in connection with each monthly filing of the management report, except for the months in which SAS’s interim reports are issued and filed equally.

More information about the Chapter 11 process is available on the Company Reorganization website, https://sasgroup.net/transformation. Court documents and other documents related to Chapter 11 proceedings in the United States are available on a separate website maintained by Kroll Restructuring Administration LLC, SAS’s complaint agent. https://cases.ra.kroll.com/SAS. (844) 242-7491 (US / Canada) or +1 (347) 338-6450 (International) and email [email protected]

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Consultants

Weil, Gotshal & Manges LLP serves as global legal counsel and Mannheimer Swartling Advokatbyrå AB serves as Swedish legal counsel. Sebury Securities LLC and Skandinaviska Enskilda Banken AB are serving as investment bankers, with Sebury acting as restructuring advisor. FTI Consulting acts as financial advisor.