Scandinavian carrier SAS unveiled Tuesday a plan to raise around 12 billion Swedish kronor ($1.3 billion) in new funds to deal with the impact of COVID 19.
Supported by the three largest shareholders, including the governments of Sweden and Denmark, the aid campaign will result in a 14.25 billion kronor boost to the airline's equity as it will convert some existing bonds into equity.
SAS said it does not expect demand for travel to return to pre-COVID-19 levels before 2022.