Jun 30, 2020
Scandinavian Airlines Gets $1.5 Billion to Survive Crisis
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STOCKHOLM (AP) — Scandinavian Airlines said Tuesday it is getting an aid package worth 14.25 billion kronor ($1.5 billion) after an agreement with its main shareholders, securing the carrier’s survival amid the COVID-19 crisis.
The aid package was also financially supported by its third main owner, the Knut and Alice Wallenberg Foundation, a Swedish public and private foundation.
The package includes issuing new shares and converting bonds into shares.
In the statement, SAS said that amid the global travel restrictions caused by the pandemic it had taken measures “to radically reduce costs as a result of the decline in demand, which is not expected to return to pre-COVID-19 levels before 2022.”
The recapitalization plan is subject to approvals by a general shareholders' meeting and the European Commission.
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Summer travel advice during the COVID-19 crisis
CHICAGO (WLS) -- Summer travel is not advised during the COVID-19 pandemic, but there are ways to mitigate risk if people still choose to do so.
Dr. Chris Colbert, assistant program director of the emergency medicine residency program at the University of Illinois at Chicago, joined ABC 7 Chicago Sunday morning to discuss summer travel options.
Colbert said driving is best because you know who's in the car with you.
Camping is a good idea due to the open space, he said. Wear masks and practicing social distancing while there.
You can access cleaning policies and procedures for any hotels, but call and ask Airbnb hosts to find out what they do.