Despite massive losses "Saab has a future," the Swedish car maker's chief executive Jan Ake Jonsson said Friday, according to dpa. "I have to be optimistic about the future since we have a number of new models that are almost ready for production and we need capital to do that," Jonsson said at a news conference at Saab's main production plant in Trollhattan, south-western Sweden. Jonsson's remarks were made shortly after the subsidiary of US automotive giant General Motors Corp filed for bankruptcy protection as part of attempts to reorganize its business. GM this week said it planned to shed the brand as part of its restructuring efforts, sparking the moves by the Saab board. A district court in nearby Vanersborg granted the application and appointed an administrator to review Saab and its business plans. Administrator, lawyer Guy Lofalk, said the reorganization included two components, reviewing financing including write-down of debt, and overseeing operations.
