SAS to list hotel business

Scandinavian Airline Systems (SAS) intends to list its hotel business, Rezidor SAS Hospitality, on the Stockholm Stock Exchange. The listing will take place within twelve months through an initial public offering (IPO).

“While Rezidor SAS has continued to perform well, the SAS Group’s intention to list the company is in line with the previously stated strategy to focus on its core airline activities.”

“The listing will enable SAS to exit its hotel business, continuing the process initiated last year when Carlson Hotels Worldwide acquired a 25 percent stake in Rezidor SAS from the SAS Group.”

The company said that the IPO would allow Rezidor SAS increased flexibility.

Rezidor SAS includes hotels run under five brands: Radisson SAS, Country Inn, Cerruti, Park Inn and Regent. It currently has 279 hotels in 50 countries worldwide, and employs 4,436 people.


‘We agree to disagree’: Still no progress in marathon SAS strike talks

By lunchtime on Friday, talks between the Scandinavian airline SAS and unions representing striking pilots were still stuck on "difficult issues".

'We agree to disagree': Still no progress in marathon SAS strike talks

“We agree that we disagree,” Roger Klokset, from the Norwegian pilots’ union, said at lunchtime outside the headquarters of the Confederation of Swedish Enterprise in Stockholm, where talks are taking place. “We are still working to find a solution, and so long as there is still some point in continuing negotiations, we will do that.” 

Mats Ruland, a mediator for the Norwegian government, said that there were “still several difficult issues which need to be solved”. 

At 1pm on Friday, the two sides took a short break from the talks for lunch, after starting at 9am. On Thursday, they negotiated for 15 hours, breaking off at 1am on Friday morning. 

READ ALSO: What’s the latest on the SAS plane strike?

Marianne Hernæs, SAS’s negotiator on Friday told journalists she was tired after sitting at the negotiating table long into the night. 

“We need to find a model where we can meet in the middle and which can ensure that we pull in the income that we are dependent on,” she said. 

Klokset said that there was “a good atmosphere” in the talks, and that the unions were sticking together to represent their members.

“I think we’ve been extremely flexible so far. It’s ‘out of this world’,’ said Henrik Thyregod, with the Danish pilots’ union. 

“This could have been solved back in December if SAS had not made unreasonable demands on the pilots,” Klokset added. 

The strike, which is now in its 12th day, has cost SAS up to 130m kronor a day, with 2,550 flights cancelled by Thursday, affecting 270,000 passengers.