Nothing new in ownership talks between Nordic governments
21. februar 2012, 12:11 – opdateret 21. februar 2012, 12:20
The Swedish Finance Ministry has denied rumours that the governments of Sweden, Denmark, and Norway have reached agreement to sell off their holding in SAS.
Sources close to the Swedish business newspaper, Dagens Industri, claimed last week that the governments of Denmark, Sweden, and Norway are preparing to shed their majority, 50.4%, share in Scandinavian Airlines, SAS but a ministry spokesman said the rumour was based on a 'misunderstanding' and there’s nothing new in the three Nordic countries discussing their ownership situation.
The airline has been hard hit by the Spanair bankruptcy, which led to a DKK1.5bn write off, and 2011 accounts showing massive losses and debts exceeding €1bn. The Swedish government was handed a mandate by the Swedish Parliament, Riksdag, to look for a buyer two years ago and Norway has also expressed a willingness to sell but Denmark has been hesitant due to the possible negative consequences for Copenhagen Airport as a major hub if the airline falls into new hands.
SAS has been struggling for years against overcapacity, cut-price rivals and an aged fleet of planes, and has long been seen as unlikely to survive alone in the long term. At the end of 2010, German airline Lufthansa was hotly tipped to be preparing a bid for SAS, but that came to nothing.
