Creditors circle, but Cargologicair could still rise from the ashes
Administrators are investigating a potential sale of Cargologicair (CLA), as creditors swirl around what was ...
© Joost De Graaf |
By Alex Lennane
It feels like SAS has always struggled. And it is again. Yesterday it filed for Chapter 11 bankruptcy in the US to help cut its debt, after wage negotiations with its pilots fell through. The bankruptcy protection would enable it to restructure its finances, it said. Reuters has the full facts of the case.
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