Scandinavian Airline SAS Files for Bankruptcy Protection After Pilots Strike
Scandinavian airline SAS AB has filed for bankruptcy protection in the U.S., saying a move by about 1,000 of its pilots to go on strike would worsen its already fraught finances as the carrier becomes one of the first casualties of a difficult recovery in air travel.
The company said Tuesday that it would continue to operate during the voluntary restructuring process, but the staff walkout would lead it to cancel roughly 50% of its flights daily. SAS said it expects the Chapter 11 court process to last between nine and 12 months.
