Sas Initiates Process To Raise Equity Financing, Provides Updated Financial Projections And Confirms Expectations For Existing Shareholders And Creditors

April 5 (Reuters) - SAS AB:

* SAS INITIATES PROCESS TO RAISE EQUITY FINANCING, PROVIDES UPDATED FINANCIAL PROJECTIONS AND CONFIRMS EXPECTATIONS FOR EXISTING SHAREHOLDERS AND CREDITORS

* AS PART OF ITS CHAPTER 11 PROCESS, SAS WILL TODAY FILE A MOTION WITH U.S. BANKRUPTCY COURT FOR SOUTHERN DISTRICT OF NEW YORK

* SAS WILL RUN A COMPETITIVE AND BROAD SOLICITATION PROCESS TO SECURE BEST AVAILABLE TERMS AND CONDITIONS FOR NEW EQUITY CAPITAL

* SAS WILL CONTINUE TO OPERATE BUSINESS AND SERVE ITS CUSTOMERS AS USUAL THROUGHOUT THIS PROCESS

* POTENTIAL INVESTORS CAN PLACE BIDS TO TAKE LEAD POSITION OR BE PAIRED WITH OTHER INVESTORS IN ACQUIRING EQUITY INTERESTS OF REORGANIZED SAS

* SAS EXPECTS TO REACH AN ADJUSTED NEGATIVE EBT OF APPROXIMATELY SEK 4-5 BILLION IN FISCAL YEAR 2023

* SAS EXPECTS TO REACH POSITIVE EBT IN FISCAL YEAR 2024, INCREASING TO APPROXIMATELY SEK 5-6 BILLION IN FISCAL YEAR 2026

* FOR FISCAL YEAR 2026, REVENUES ARE NOW EXPECTED TO REACH UP TO APPROXIMATELY SEK 58 BILLION, VERSUS. SEK 49 BILLION PREVIOUSLY SET FORTH Source text for Eikon: Further company coverage: