Summary SAS will delist its common shares and hybrid commercial bonds at the end of the trading day on August 13. The delisting was part of the airline's reorganization plan in Sweden. Air France-KLM will become one of the shareholders of SAS after it exits its restructuring processes.
SAS Scandinavian Airlines, the de facto flag carrier of Denmark, Norway, and Sweden, has marked the last day of trading on the Nasdaq stock exchanges in the three aforementioned countries’ capitals. The three stock exchanges close the trading day at 17:30 local time (UTC +2). Delisting shares and bonds As announced by SAS on August 12, the airline’s existing common shares and hybrid bonds will be delisted on August 13.
The delisting was part of the carrier’s reorganization plan that the Stockholm, Sweden, District Court had approved on July 19. The reorganization plan, which has been a part of its Chapter 11 bankruptcy proceedings, which the US Bankruptcy Court for the Southern District of New York approved on March 19, began on March 27 when the airline applied for the reorganization at the Swedish court. Nevertheless, the record date on which holders of the commercial hybrid bonds must still hold the securities was set to August 15.
In addition to the fact that bondholders will not be able to transfer these instruments following that day, they will have to hold these securities in order to receive distributions under the aforementioned reorganization plan. SAS’ shares were listed on t.