Two groups, including Apollo, bidding for SAS airline -Aftenposten

OSLO (Reuters) – Two groups of investors, including U.S. private equity group Apollo Global Management, are bidding for Scandinavian airline SAS, Norwegian daily Aftenposten reported on Friday, citing unnamed sources.

It was not immediately clear who was leading the second group of investors, the newspaper added.

Scandinavia’s biggest carrier filed for bankruptcy protection in the United States in mid-2022 after years of struggling with high costs coupled with low customer demand brought on by the pandemic.

Sources told Reuters in early May that Apollo hoped to take a majority stake in the Nordic airline.

SAS had said that any bids in an equity fundraising would need to include the Danish state, which currently has a 22% stake.

(Reporting by Nerijus Adomaitis, editing by Terje Solsvik and Nick Zieminski)