SAS filed for bankruptcy protection in the US

SAS (SAS.SE) stock plunged over 12.0% on Tuesday, extending recent losses after a Scandinavian airline filed for bankruptcy protection in the United States in order to reduce debt. Company  warned that the pilots' strike which started yesterday will deepen its financial crisis.

"Through this process, SAS aims to reach agreements with key stakeholders, restructure the company's debt obligations, reconfigure its aircraft fleet, and emerge with a significant capital injection," the carrier said in a statement.

SAS AB (SAS.SE) stock resumed downward movement today and the price broke below the lower limit of the consolidation zone at 0.5750. Source: xStation5