SAS AB said yesterday that it will defer interest payments due on its perpetual capital securities as part of its restructuring plan and voluntary chapter 11 process in the U.S., MarketWatch.com reported. The Scandinavian airline filed for chapter 11 in July as it seeks to push through a comprehensive financial restructuring to cut costs and raise capital under the supervision of the U.S. court system. The deferrals announced today include a 39.7 million Swedish kronor ($3.5 million) semi-annual interest payment due Oct. 24 on its outstanding SEK1.62 billion perpetual capital securities, and a SEK153.1 million semi-annual interest payment due Oct. 26 on its outstanding SEK6 billion subordinated perpetual capital securities.
