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That didn’t come as a surprise. The airline has been facing economic problems for a long time, which were made even worse by the corona pandemic. SAS had already applied for protection from creditors under Chapter 11 of US insolvency law last summer. Why US law even though SAS is based in Stockholm? “Companies need a so-called COMI, a Center of Main Interest, in the USA in order to be able to carry out such a procedure,” explains Marc Liebscher, board member of the Investor Protection Association (SdK). This is often the case with international airlines.