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Government parties, Centre Party and Liberal Party agree on supporting SAS to access liquidity
The government parties, the Centre Party and the Liberal Party have agreed on supporting SAS to access liquidity equivalent to SEK 1.5 billion. This support from the Swedish State is subject to the European Commission’s approval of the measures and corresponding support from the Danish State.
Demand for air travel has remained at very low levels in comparison with forecasts in conjunction with the SAS recapitalisation process. SAS is important to meeting society’s fundamental needs in terms of accessibility by air travel in Sweden, Denmark and Norway. As the largest owner of SAS, together with the Danish State, it is natural for the Swedish State to take responsibility in this crisis. It is crucial that SAS become a long-term profitable and sustainable company after this crisis. The government parties, the Centre Party and the Liberal Party have agreed to support the company in accessing liquidity equivalent to SEK 1.5 billion in a credit framework.
The Government previously imposed strict climate and environmental requirements on SAS in conjunction with its recapitalisation. As a result, the company has set tougher climate objectives to contribute to meeting the Paris Agreement goals. As an owner, the Government expects SAS to implement its climate efforts in line with its communicated plan. The Government remains in close dialogue with the company regarding its climate work. Emissions from aviation must decrease.
A potential solution must be consistent with EU regulations on State aid. Swedish State support is subject to corresponding support from the Danish State. The proposal is subject to approval from the Riksdag. The Government will announce the details in due course.