SAS open to increasing stake in Estonian airline
Published: 28 Nov 08 06:34 CET | Print version
Online: http://www.thelocal.se/15992/20081128/
Scandinavian airline SAS said on Thursday it wants to buy all or part of the Estonian government’s 34 percent stake in Estonian Air.
- SAS plane loses part of wing in Newark collision (2 May 13)
- Swedes' Germany trips cancelled due to strike (21 Apr 13)
- SAS now cheapest on several European routes (18 Apr 13)
He said no financial details were mentioned in the letter.
According to Swedish news agency TT, SAS is concerned about Estonian Air's financial woes and believes the company needs a capital injection.
But the Estonian government has been unwilling to throw more money into the carrier given its own financial difficulties in the wake of the global financial crisis, TT said.
SAS would be willing to inject capital into the beleaguered airline but only if Tallinn sells it its shares.
"If this doesn't happen, SAS cannot take responsibility for Estonian Air's future," SAS chief executive Mats Jansson wrote in the letter, TT reported.
SAS itself has in recent months been the subject of takeover rumours after heavy losses this year.
In the third quarter, SAS reported net losses of 2 billion kronor ($260 million) compared to a profit of 701 million kronor a year earlier, as the financial crisis saps demand for travel and after a deadly crash involving its subsidiary Spanair.
The Spanair plane crash in Madrid on August 20 that left 154 people dead was expected to cost SAS some 1.95 billion kronor, SAS said.
Asked whether SAS was in a strong enough financial position to increase its stake in Estonian Air, Ternert said: "SAS is a group. We have a lot of companies. We can say we have more or less successful companies. We are not in such a bad situation."
Founded in 1946, the SAS group includes the airlines SAS Denmark, SAS Norway, SAS Sweden as well as the low-cost carriers Spanair, airBaltic, Blue 1 and Wideroe. Together they carried 33.42 million passengers last year.
Solna voted best place to live in Sweden
Solna, a suburb just north of Stockholm, is the best place to live in Sweden, according to a new ranking published on Friday by Swedish news magazine Fokus. READ () »
Ikea founder rated fifth richest in the world
Ingrad Kamprad, the founder of Swedish furniture giant Ikea, finished fifth on the Bloomberg Billionaires Index published on Friday, with an estimated fortune of $55.6 billion. READ () »
LinkedIn profile lands Swede with hefty tax bill
A Swedish man is facing a five-million kronor ($750,000) add-on to his tax bill after the authorities took a proper look at his account on the professional networking site LinkedIn. READ () »
India in no rush to open first Ikea store
The first Ikea store to open in India may not be ready for years, with the India head of the Swedish furniture giant prepared to wait until the the perfect location is found for the first of the 25 planned stores. READ () »
H&M CEO to Bangladesh: raise minimum wages
H&M CEO Karl-Johan Persson has urged Bangladesh to raise its minimum wage, adding the Swedish fashion giant is "willing to pay more" in the wake of a garment industry disaster which killed more than 1,100 people. READ () »
Pensioners to recruit ageing Swedish rockers
The Swedish Pensioners Association wants to cast off its "stuffy" image at the Sweden Rock festival, in a recruitment bid to set up a rock music subgroup of new members. READ () »
Sweden plummets in income equality ranking
The living conditions of most Swedes have improved in recent decades, but income inequality is growing rapidly, according to a new OECD report, which saw Sweden drop 14 spots from its first place ranking in 1995. READ () »
Swedish shop hits back: our Converse are real
Swedish retailer Coop has refuted complaints by US sneaker brand Converse that Coop stores are selling unauthorized pirated copies of the iconic footwear. READ () »
Young Swedes forced to live with mum and dad
More than half of Swedes in their twenties are stuck living at home with their parents in major metropolitan areas, with observers blaming politicians for abdicating any responsibility for dealing with lack of housing. READ () »
Converse in bid to ban 'fake' shoes in Sweden
Legendary US sneaker brand Converse has asked a Swedish court for permission to search outlets of Swedish retail chain Coop in a bid to clear near-perfect pirated copies of the iconic shoes off the shelves. READ () »
- 10/05 ABB executive to quit after five-year tenure »
- 10/05 Borg defends critique of strong Swedish krona »
- 08/05 EU green lights Volvo and Dongfeng merger »
- 08/05 Sweden sells toxic Baltic salmon to EU: report »
- 07/05 Swedish app lets 'everyone' write music »
- 07/05 'Invisible thread' can help fight fashion pirates »
- 06/05 The British barber a cut above the rest »
- 06/05 Government locks horns with opposition over jobs »
- 03/05 Spotify snags Swedish music app Tunigo »
- 03/05 India seals Ikea's emerging-market push »
| 17/05 | Account Executive - Sweden- Sofware Sales | Stockholm |
| 17/05 | Authorization Engineer | Västerås |
| 17/05 | Backend infrastructure Team Lead | Stockholm |
| 17/05 | Baxter Home Hemodialysis ? HHD Field Service EngineerBaxter Medical AB | Östergötland |
| 17/05 | Boutique Manager / Store Manager | Copenhagen |
| 17/05 | Business ConsultantTieto Sweden AB | Stockholm, STHM |
| 17/05 | Business Partner Sales to AkzoNobelExperis Finance | SKÅ |
| 17/05 | BUSINESS SOL ARCHITECT | Kista |
| 17/05 | C# DeveloperQlikTech | Lund-22363 |
| 17/05 | Clinical Evaluation ManagerPoolia AB | Göteborg, VTG |
- 17/05 Germany cool to France's EU economy plan »
- 17/05 Au pairs rules relax for non-German families »
- 16/05 Germany refuses to slam French economic policy »
- 16/05 Capri-Sun drink wins false advertising award »
- 15/05 Anaemic economy feels winter chill »
- 15/05 ThyssenKrupp bins 3,000 admin jobs »
- 15/05 Pay deal for metal workers averts strike »
- 14/05 First ever strike hits Amazon's German unit »
- 14/05 Volkswagen plans giant car plant in China »
- 13/05 Metal workers enter huge warning strikes »
- 16/05 Rob for Russian Speaking
- 16/05 pet carrier
- 16/05 Big Sister/ Nanny
- 16/05 I need an apartment any where in or near to Stockholm
- 15/05 English speaking babysitter
- 15/05 Lookinf for track driver job!
- 08:38 Help residents save energy and cash
- 08:25 Posting parcel from Sweden
- 05:11 Spam spam spam
- 23:01 Where to buy rubbing alcohol?
- 22:21 Drinking laws in Sweden confused!
- 20:46 Questions concerning MV
- 19:25 My scary encounter with Swedbank.
- 18:07 Stay in Sweden when residence permit expires
- 17:39 Questions Regarding Swedish Literature
- 17:10 Eurovision 2013 finals prediction using statistics
Expat counsellor & talk therapist offers counselling for stress, relationship issues, sexuality, culture adjustment & life coaching. Private & confidential. Stockholm or Skype. Contact me today! 08-559 22 636 or
CLICK HERE
Casa Birgitta in Algarve, Portugal. Reduced price in best location. Private estate on white sand beach. All amenities included. Book here today! edward_george1@hotmail.com
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Create an account with Banc De Binary, the world’s most reputable binary options firm, and start cashing in today! You can start by practicing with our free $50,000 demo account.
www.bbinary.com
