My dear Arctic Wolf - just to confuse matters, are we talking European billions (ie 1,000,000,000,000) - or the US one (1,000,000,000) - ie a European milliard?
To be fair to SAirGroup, the figures your quote are the gross liabilities - against that they have plenty of assets (especially Flightlease). Even so, I'd suspect their nett debt still has to be into ten figures; especially given the current market for aircraft!