The Swedish manufacturer has negotiated a property deal worth 25 million and comes just mere days after not being able to pay staff or suppliers.

The deal allows staff and some suppliers, Saab has sold just over 50% of its property company to a consortium of Swedish property investors who in turn have agreed to rent it back to them over a 15 year period. Further good news came in with an order for 582 cars from a Chinese company.

Saab are still in talks with other investors but the bottom line is that they need to increase sales as last year they only sold a quarter of what they require to break even, Victor Muller of Saab said “We very much regret the current cash shortage which is causing undeserved hardship to all and we are working relentlessly to resolve the current situation.”