With the possibility of a global recession looming and rising corporate default risk, early warning signals are more important now than ever.
The largest Scandinavian airline defaulted on July 5, 2022, amid a pilot’s strike that grounded most of its flights. The company had been dealing with a slow recovery from the pandemic on top of already existing organizational issues. SAS filed for bankruptcy in an effort to decrease its nearly $2B in debt and increase equity.
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