Aug 28 (Reuters) - Scandinavian airline SAS has

completed restructuring and emerged from Chapter 11 bankruptcy

proceedings in the United States, it said on Wednesday.

The Sweden-based airline has restructured more than $2

billion of debt, adjusted its aircraft fleet and reached

agreements with key stakeholders, creditors and vendors, it said

in a statement.

SAS, which filed for bankruptcy in July 2022, had in March

received approval from a U.S. bankruptcy judge for its Chapter

11 plan of reorganization, clearing the airline to move ahead

with a restructuring that included a $1.2 billion investment

from a consortium of bidders, including the Danish government.

The airline has concluded an exit financing solicitation

process with a consortium of hedge fund Castlelake, Air

France-KLM, investment manager Lind Invest and the

Danish state as the winning bidder.

The transaction included an investment of $1.2 billion,

which comprised $475 million in new unlisted equity and $725

million in secured convertible debt.

SAS on Tuesday reached a wage deal with its cabin crew in

Norway, prompting workers to call off a strike that has grounded

dozens of flights since late last week.