Further to the above, the Authority concludes that the States, in their position as existing shareholders in SAS, were guided by reasonable and realistic prospects of profitability when they decided to participate in the new RCF together with KAW and the lending banks during the period December 2012 — March 2014.
Les deux dernières clauses financières étaient ajustées sur une base trimestrielle en fonction du modèle financier qui sous-tend le plan 4XNG, ce qui signifie que SAS était tenue de respecter ses propres objectifs financiers.