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COVID-19

Living in Europe: An update from the team at The Local

There's no doubt living, working and moving around Europe has become far more challenging in recent months. For all of us.

Living in Europe: An update from the team at The Local
Life in Europe is not like it was. Cyclists drive past chairs and tables of a still closed restaurant at the Alter Markt place, where works are under way for the reopening in Dortmund. AFP

Normal daily life has changed, travel has become more complicated and jobs and small businesses are under threat.

During these turbulent times, we at The Local pledge to provide you with all the essential news and information you need to stay informed with what's happening in the country where you live or love to visit.
 
Over the coming months we promise to:
 
  • Bring you everything you need to know about how the coronavirus crisis continues to impact European countries over the coming weeks and months.
  • Explain all the rules, regulations or health guidelines you have to follow 
  • Cover essential issues from travel and taxes, to jobs and work permits, borders and Brexit.
  • Answer your crucial questions and ask them, on your behalf, to authorities and we'll help you learn the local language in each country.
 
The weeks ahead will be extremely challenging for us at The Local given advertising revenue has plunged by around 70 percent compared to last year.
 
We have survived the crisis up until now because of the thousands of readers who became members in recent months and the thousands more who renewed their memberships. We are very grateful, as are our regular readers.
 
 
Without our members' support we wouldn't have been able to produce the articles, many of which we made free to all, that millions are reading each month.
 
We currently have around 25,000 members of The Local community. We've come a long way from when the The Local began in 2004 in the form of a newsletter sent to 12 people in a language class.
 
But our urgent goal is to grow our community to over 40,000 so we can cover our costs, become sustainable and not have to rely on advertising for survival.
 
Every member counts, so we could do with your help to spread the word. Tell your friends and colleagues about us or share our stories with them.
 
In return we'll continue to work hard and publish dozens of articles each week to explain life around Europe.
 
You should also know we are reinvesting members' contributions by bringing on board new writers, increasing weekend coverage and upgrading our apps.
 
 
 
This has been possible thanks to a grant from the Solutions Journalism Network.
 
We hope you stay with us over the coming months as we report and explain all the relevant news and changes that affect you.
 
And remember the best way to keep up to date is by downloading our iOS or Android phone apps, and by joining the conversations on Facebook or Twitter.
 
A big thanks to all our readers from everyone at The Local.
 
 

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SAS

Struggling Scandinavian carrier SAS gets $700m loan

Ailing Scandinavian airline SAS, which filed for bankruptcy protection in the United States in early July, said Sunday it had secured a 700-million-dollar loan.

Struggling Scandinavian carrier SAS gets $700m loan

The move follows a crippling 15-day pilot strike, also in July, that cost the carrier between $9 and $12 million a day.

The pilots were protesting against salary cuts demanded by management as part of a restructuring plan aimed at ensuring the survival of the company.

READ ALSO: SAS strike affected 380,000 passengers in July

SAS said it has entered “into a debtor-in-possession (DIP) financing credit agreement for $700 million with funds managed by Apollo Global Management”.

SAS had filed for Chapter 11 bankruptcy protection in the United States and said the “DIP financing, along with cash generated from the company’s ongoing operations, enables SAS to continue meeting its obligations throughout the chapter 11 process”.

“With this financing, we will have a strong financial position to continue supporting our ongoing operations throughout our voluntary restructuring process in the US,” SAS board chairman Carsten Dilling said.

SAS management announced in February the savings plan to cut costs by 7.5 billion Swedish kronor ($700 million), dubbed “SAS Forward”, which was supplemented in June by a plan to increase capital by nearly one billion euros ($1.04 billion).

Denmark and Sweden are the biggest shareholders with 21.8 percent each.

“We can now focus entirely on accelerating the implementation our SAS FORWARD plan, and to continue our more than 75-year legacy of being the leading airline in Scandinavia.”

SAS employs around 7,000 people, mainly in Denmark, Norway and Sweden. It has suffered a string of losses since the start of the coronavirus pandemic in early 2020.

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