SAS expects to be sold to competing airline

News about this airline - please include a link to the source as well as the article text itself.
User avatar
bimjim
Forum Administrator
Forum Administrator
Posts: 30891
Joined: Fri May 12, 2006

SAS expects to be sold to competing airline

Unread post by bimjim » Thu Mar 04, 2010

http://www.atwonline.com/news/other.htm ... e=3/4/2010

SAS expects to be sold to competing airline
Thursday March 4, 2010

SAS Group President and CEO Mats Jansson told Dagens Nyheter that the company likely will be sold to another airline once it recovers financially. "My understanding is that, after this crisis is over, SAS will be part of a structural deal," he said, according to Reuters. "It is tough out there and there are obvious synergies and advantages to be had from being part of a bigger entity."

Two weeks ago the Swedish government said it intends to reduce its 21.4% share in the group (ATWOnline, Feb. 19), but right now Jansson said he is focused on completing the previously announced SEK5 billion ($695 million) rights issue. SAS said it plans to unveil the subscription price on April 6, with the subscription period scheduled for April 15-29. The board will propose a reverse split in order to reduce the number of shares following the issue. "First we have to get the capital injection from shareholders and then get the cash flow positive again so that SAS will be an interesting object again," Jansson said. "From 2011 we will begin to show positive figures on the bottom line."

Post Reply

Return to “SAS - Scandinavian”