SASDF - Scandinavian Airlines said to prepare to file Chapter 11 bankruptcy imminently

• Scandinavian Airlines ( OTC:SASDF ), or SAS AB, is said to be preparing to file for bankruptcy imminently, according to a Reorg report, which cited unidentified sources.
• On Tuesday,  SAS, the SAS Scandinavia pilots’ unions and mediators agreed to extend a mediation deadline until Saturday, in an effort to avoid a struck, Reorg and other media outlets including Bloomberg reported.
• The report comes after SAS in late May announced a $3 billion restructuring plan, which involved raising equity capital, and converting existing debt into stock, according to a Bloomberg report at the time.

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