Shares in Scandinavian Airlines dropped more than 90% after the ailing carrier announced new shareholders in a restructuring scheme that will see the company delisted and existing ownership stakes erased.
The rescue deal involving airline alliance Air France-KLM and private equity firms Castlelake and Lind Invest, which became investors alongside the Danish state, was presented late on Tuesday.
The deal means that Scandinavian will receive 475 million dollars (£393 million) in new equity and 700 million dollars (£579 million) in…
