• Sweden edition
 
FINANCIAL WOES AT SAS
Sweden seeks buyer for ailing SAS: minister

Sweden seeks buyer for ailing SAS: minister

Published: 20 Nov 2012 11:29 GMT+01:00
Updated: 20 Nov 2012 11:29 GMT+01:00

"We had a process underway for a while to try to find buyers for the company. Now we'll have to start again, we'll contact potential buyers and see where we land," Norman told financial daily Dagens Industri.

"You have to understand that the Swedish, Norwegian and Danish states have invested more than 10 billion kronor ($1.5 billion) in 10 years," he recalled, saying it would be "unreasonable to pump more billions into the company."

Sweden is the biggest state shareholder, ahead of Denmark and Norway which each hold 14.3 percent.

Norway and Denmark have also tried to sell their stakes for several years, but the company has attracted little interest among buyers owing to its high costs.

Stockholm agreed on Monday to make a loan to help SAS finance a vast restructuring plan.

The company's eight unions have agreed to the plan aimed at turning SAS' dire finances around through wage and job cuts, an administrative reorganization, divestments and outsourcing.

"My assessment is that before the agreement it was almost impossible to sell, but now I think the chances are better," Norman said.

He would not identify by name any potential buyers of a slimmed-down SAS.

"It could be the same buyers (that showed interest before), but it could also be new ones," he said.

AFP/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

13:39 November 20, 2012 by EtoileBrilliant
Who's going to touch SAS with a barge pole? The shareholders have tried for years to get this spinster up the aisle. Lufthansa are no longer interested and are sniffing around the Turkish delight. Until SAS consolidate the unions this is a no deal.

SAS isn't run for it's customers, it' s not even run for it's shareholders, it's run for its employees. I go to Frankfurt twice a month and I can never get an economy return ticket for less than €700. In contrast, the Amsterdam route it's never more than €250 even if it's booked at the last moment.

Give Norwegian their routes.
14:39 November 20, 2012 by mickeyonemore
Luthansa has been waiting in the wings for the last few years.Having been on the shop floor at STS maintenance bases in Stockholm and Oslo,they are shambolically run.Luffty's will make them great again like they used to be years ago.So many office staff walking around picking up massive salaries for what? Checking what the other person does? Also Stockholm have meetings to discuss whether they should have a meeting.Come on aboard Luthansa and sort this mess out.
Today's headlines

Woman finds Ikea bags stuffed with 80 skeletons

A woman in southern Sweden is furious after she stumbled upon scores of skulls and human bones inside Ikea bags in a church cellar. READ  

Swedish Wikipedia jumps to second biggest

Swedish Wikipedia jumps to second biggest

There are now more Swedish Wikipedia entries than any other language in the world, besides English. And there's one Swede who's largely responsible. READ  

Assault with iron pipe 'no hate crime': police
The aftermath of the attack in Seved, Malmö on July 6th 2014. Drago Prvulovic / TT

Assault with iron pipe 'no hate crime': police

Police in southern Sweden have concluded that a man who was beaten with an iron pipe for hanging an Israeli flag in his window was not a victim of a hate crime. READ  

AstraZeneca hikes earnings outlook

AstraZeneca hikes earnings outlook

After fighting off a fierce takeover bid from Pfizer, Swedish-British drugmaker AstraZeneca raised its 2014 earnings outlook and posted rising second quarter sales on Thursday. READ  

Race to be scrapped from Swedish legislation
Integration Minister Erik Ullenhag meets children in Husby, Stockholm. Photo: Jonas Ekströmer/TT

Race to be scrapped from Swedish legislation

The Swedish government announced that it plans to remove all mentions of race from Swedish legislation, saying that race is a social construct which should not be encouraged in law. READ  

US aircraft 'violates' Swedish airspace

US aircraft 'violates' Swedish airspace

A mystery airplane that passed over Swedish airspace recently has been revealed as an American aircraft, sources revealed on Thursday. READ  

Elite schools stripped of 'special' privileges

Elite schools stripped of 'special' privileges

Sweden's three elite boarding schools can no longer charge tuition fees, the government announced on Thursday, in a string of changes following a two-year review. READ  

Bildt lays out four steps to Gaza peace
Photos: TT

Bildt lays out four steps to Gaza peace

Swedish Foreign Minister Carl Bildt stated that there are four steps to achieving peace in Gaza, and that it begins with removing the blockade - which has "played into Hamas' hands". READ  

Malmström snags EU commissioner post again

Malmström snags EU commissioner post again

Cecilia Malmström has been nominated to be the European Commissioner for another five years, Sweden's prime minister announced on Thursday. READ  

Stockholm Pride 2014
In Pictures: Stockholm's Historic Pride Party
Conchita Wurst belts out a ballad. Photo: Rebecca Jacobs

In Pictures: Stockholm's Historic Pride Party

With Stockholm's Pride Week in full swing, The Local's Rebecca Jacobs heads on down to the traditional Historic Party to take in the colours, Conchita, and the community. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
National
Stockholm Pride bars Sweden Democrats
National
Gender neutral pronoun 'hen' enters dictionary
Society
Top ten cafes in Stockholm
People-watching
Gallery
People-watching - Stockholm Pride
Photo: Henrik Trygg/Imagebank Sweden
Society
Sweden worst in EU at getting foreigners jobs
Blog updates

31 July

Calling a speedo a speedo (Blogweiser) »

"There are a lot of speedos on Europe’s beaches. Some European males are evidently more comfortable sporting small, stretchy suits on public beaches than I would be. I accept it may be nice to have swimwear that’s not long and cumbersome. A speedo is maybe also good for tanning. But strolling around town in a..." READ »

 

27 July

Approaching Stockholm (Around Sweden in a kayak) »

"I woke up in the comfort of my own little cabin on Eva and Rolf’s boat, it was 7:30am and I was feeling a bit groggy after a couple of beers with all the lovely locals the night before. The previous day had really taken its toll on my body and I was very stiff and..." READ »

 
 
 
Lifestyle
Stockholm Pride kicks off
Analysis
The top six ways the US and Sweden differ
National
Swedish youth suicides hit 25-year high
National
Politician reported for selling 'negro ball'
National
Police turn blind eye to Swedish 'slave trade'
Gallery
Stockholm Pride: Allsång på Skansen with Conchita Wurst
Skatteverket
Sponsored Article
Introducing... ID cards and permits in Stockholm
Gallery
People-watching, June 26th - 28th. Get inside Stockholm's hottest nightclubs
Gallery
Top ten Swedish taboos
Society
Seven-year-old Swede cycles to Berlin
Politics
'Gaza conflict needs help, not empty rhetoric'
Society
Swedes voted 'most beautiful' in the Nordics
Business & Money
Sweden demands EU clarity on Bitcoin tax
National
Swedish organic sales enjoy 'amazing' growth
Photo: Johan Nilsson/TT
Society
What's On in Sweden
Gallery
People-watching July 23
National
Swedish cops elect not to shoot 'angry elks'
Business & Money
New alcohol retail rules threaten micro-breweries
Gallery
People-watching Båstad
Sponsored Article
Introducing... Your finances in Stockholm
Sponsored Article
Introducing... Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

738
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se